Automatic enrolment earnings thresholds 2014/15
09 January 2014
The DWP announced the proposed annual thresholds for the 2014/15 tax year in December and although the annual figures should remain as published, the proposed earnings trigger values by pay reference period are likely to be slightly different.
The annual thresholds are expected to remain the same.
|
2014-2015 |
Proposed Annual threshold |
|
Lower level of qualifying earnings |
£5,772 |
|
Earnings trigger for automatic enrolment |
£10,000 |
|
Upper level of qualifying earnings |
£41,865 |
The Pensions Regulator has advised that the revised proposed earnings trigger for 2014/15 are as shown below in the table (revised figures are shown in bold).
|
Expected proposed values by pay reference period |
||||||
|
2014-2015 |
1 week |
Fortnight |
4 weeks |
1 month |
1 quarter |
Bi-annual |
|
Lower level of qualifying earnings |
£111 |
£222 |
£444 |
£481 |
£1,443 |
£2,886 |
|
Earnings trigger for automatic enrolment |
£192 (£193) |
£384 (£385) |
£768 (£770) |
£833 (£834) |
£2,499 (£2,500) |
£4,998 (£5,000) |
|
Upper level of qualifying earnings |
£805 |
£1,611 |
£3,221 |
£3,489 |
£10,467 |
£20,933 |
We were advised at the time of publication that the values are to be published in an Order (a form of secondary legislation) by the Department for Work & Pensions (DWP) and laid before Parliament in 2014 and as such are still subject to Parliamentary approval.
We will issue confirmation as soon as the values have been approved by Parliament.