Daily Insurance Industry News
Daily Insurance Industry News
Monday 24th of September 2018
March 26, 2012

Auto enrolment aligned with tax and NI thresholds

by Gill Montia

Story link: Auto enrolment aligned with tax and NI thresholds

The Government has today published its response to the consultation on the earnings threshold for auto-enrolment.

With just over six months to go before the largest employers begin enrolling eligible workers into pension savings, the response sets out that automatic enrolment rates for the 2012 / 2013 tax year will be aligned with tax and National Insurance thresholds.

According to Minister for Pensions, Steve Webb: “These changes strike the right balance between getting as many people into workplace pension saving as possible and ensuring that we do not enrol some people who would not financially benefit from saving.

“People who are excluded from automatic enrolment will still be able to opt themselves in, benefiting from a contribution from their employer.”

The Government will review the rates each tax year.


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