Pension AE threshold for 2022/2023 frozen

The government have confirmed that the Pension Auto Enrolment thresholds have all been frozen at the April 2021 levels.

For the first time the Lower Earnings Threshold (LET) separates from the National Insurance Lower Earnings Limit (LEL) which rises from 6th April 2022.

The automatic enrolment earnings trigger determines at what point an eligible person gets automatically enrolled into a workplace pension.

The qualifying earnings band sets minimum contribution levels for money purchase pension schemes. The minimum of the band is also relevant for defining who can opt in if they earn under the earnings trigger. The government reviews these every year and revises them if appropriate.

Under automatic enrolment, employers must enrol all workers into a workplace pension if they satisfy age and earnings criteria.

PAYadvice.UK 9/2/2022

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s