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22 Mar 2019

March latest Brexit updates are now available

21 Mar 2019

ACT's retail finance provider V12 has made further security enhancements to their application process maintaining their commitment to keeping you safe.

21 Mar 2019

ATM operators are switching retailers' free-to-use ATMs to pay-to-use machines

21 Mar 2019

From the 1st of April, following the government's spring statement, apprenticeship employer fees will be halved!

20 Mar 2019

Following an increase of incoming calls querying finance providers in the cycles market, the ACT are publishing a mini-series to answer the trade's questions

19 Mar 2019

Returning to the ExCel this March is the 2019 London Bike Show

18 Mar 2019

Latest updates on Brexit and the parliamentary votes

18 Mar 2019

The government has recently presented new information surrounding Making Tax Digital

12 Mar 2019

This year's eBike summit brings together business leaders and key players working in the sector, to explore how we advance full eBike mobility

11 Mar 2019

Several great prizes up for grabs in Cytech's Fastest Wrench Competition at London Bike Show 2019

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Are you ready?

Posted on in Business News , Cycles News

pension scheme Minimum workplace pension contributions to increase. 

On the 6th of April 2019, the total minimum contributions your organisation must pay into its staff workplace pension schemes increases.

In order to comply with the law and ensure that your staff receive the pension payments they are entitled to, you need to prepare for this guaranteeing that your organisation is set up to pay the correct amounts into your staff pension schemes.

From the 6th of April, the total minimum contribution, including employer and employee payments, must be no less than 8% of qualifying earnings.

Your organisation must pay a minimum of 3% with staff making up the rest of the 8%. An organisation can choose to pay more than the required 3% minimum.

Current rates stand at:

  • 5% total minimum contribution
  • 2% employer minimum contribution
  • Up to 3% paid by an employee

Make sure to check that your systems are ready for the changes as of the 6th of April and make your staff aware.

Find out more about the increase to the workplace pension scheme here.

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