DWP automatic enrolment 2023/24 review
27 January 2023
Each year, the Department for Work and Pension (DWP) releases an analysis and review of the earnings trigger and Qualifying bands for automatic enrolment.
Within the report are the proposed thresholds for the tax year. The proposed thresholds, along with the current thresholds for reference, are as follows:
|
|
|
Lower limit qualifying earnings band |
Upper limit qualifying earnings band |
|
Current (2022/23) |
£10,000 |
£6,240 |
£50,270 |
|
Proposed (2023/24) |
£10,000 |
£6,240 |
£50,270 |
As we can see, all thresholds are to be frozen for the year. Reasons cited for this are to represent a real terms reduction (factoring inflation) of the thresholds, while not reducing them to such a point that it impacts day-to-day needs of income.
Within the report, the government reaffirmed its commitment to the 2017 Review of Automatic Enrolment, which set out an intention to remove the Lower Earnings Limit by mid 2020’s.
Past reviews are also available to view.
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