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Auto enrolment standard101Meets the minimum contributions required for auto enrolment compliance on *banded earningsMonthly Employer Services Charge £36 | Auto enrolment standard102Same as 101 but based on **basic earningsMonthly Employer Services Charge £36 | Stepped saving103A phased introduction to more generous employer contributionsMonthly Employer Services Charge £36 | Saving plus104Compliant contribution structures with employer contributions of five per cent or more, up to a total of ten per cent.Monthly Employer Services Charge £36 | Matched saving105Member contributions, based on basic earnings, are matched by employer contributions within minimum and maximum amountsMonthly Employer Services Charge £36 |
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Contribution levels from 06 April 2019 3% Employer 5% Employee | Contribution levels from 06 April 2019 4% Employer 5% Employee | Contribution levels from 06 April 2019 6% Employer 3% Employee | Contribution levels from 06 April 2019 Total Contributions of 10% or more | Contribution levels from 06 April 2019 Flexible minimum and maximum ranges from 4.5% each |
Pensionable earnings definition Banded | Pensionable earnings definition Basic | Pensionable earnings definition Basic | Pensionable earnings definition Basic | Pensionable earnings definition Basic |
Opt in and opt out management | Opt in and opt out management | Opt in and opt out management | Opt in and opt out management | Opt in and opt out management |
Communication to employees | Communication to employees | Communication to employees | Communication to employees | Communication to employees |
Contribution levels from 06 April 2019
The last legislated increase in contributions is 06 April 2019. Assuming no changes in legislation this would be the ongoing contribution levels
Pensionable earnings definition
The actual cost to the employer depends on many factors. The definition of pensionable earnings is the most important: it is this amount that the contribution is calculated from.
Band Earnings– between the statutory minimum and maximum limits as set out by the auto enrolment legislation
Basic Earnings – the basic earnings of the employee, excluding any fluctuating income, e.g. bonuses, commission, overtime, etc.
Total Earnings – the total earnings of the employee
Opt in and opt out management
We provide services to allow members to opt in or out, and maintain an audit trail to ensure compliance with auto enrolment legislation.
Communication to employees
We provide communication to all members of the Plan, including the statutory letters when auto-enrolment applies.
If you don't see what you need, please call us on 0330 100 3336 (Mon to Fri, 9am-5pm) , as we can offer customised plans.
Employers register here Financial advisers register here
*Banded earnings, also known as qualifying earnings, are the band of earnings on which contributions to auto enrolment are calculated. Banded earnings include bonuses, commission, overtime and any statutory pay, such as sick pay or maternity pay. For the 2020/21 tax year the band is between £6,240 and £50,000 a year. This means the first £13,760 of an employee's earnings does not count for the purposes of auto enrolment. So if you choose our Standard plan for auto enrolment for a employee's earning £20,000 a year, the amount you would calculate their pension contributions on would be only £13,864.
**Basic earnings are the basic earnings of the employee, excluding any fluctuating income such as bonuses, commission, overtime etc. The whole of the employee's basic earnings are taken into account when calculating their contributions. So using our Plan 102 for auto enrolment for a worker earning £20,000 before overtime or bonuses, the amount we would calculate their pension contributions on would be the full £20,000. Please note: The Pensions Regulator's guidance on the certification of basic pay offers three sets of calculations that you can use to certify that your contributions meet minimum requirements. See The Pension Regulator's guidance on certification of basic pay.