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In a review of auto-enrolment published on February 6, 2024, the Government has confirmed that the auto-enrolment earnings trigger and qualified earnings...
In a review of auto-enrolment
published on February 6, 2024, the Government has
confirmed that the auto-enrolment earnings trigger and qualified
earnings band will remain frozen for the 2024/25 tax year.
This means the parameters are as follows:
The earnings trigger remains at £10,000 p.a.
The lower limit of the qualifying earnings band remains at
£6,240 p.a.
The upper limit of the qualifying earnings band remains at
£50,270 p.a.
Under the Pensions (Extension of Automatic Enrolment) Act 2023
there exists a power to remove the lower earnings limit under
secondary legislation. The DWP intends to consult on the
implementation of these changes but no firm date is given in the
review.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
