Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner. Facebook Messenger An icon of the facebook messenger app logo. Facebook An icon of a facebook f logo. Facebook Messenger An icon of the Twitter app logo. LinkedIn An icon of the LinkedIn logo. WhatsApp Messenger An icon of the Whatsapp messenger app logo. Email An icon of an mail envelope. Copy link A decentered black square over a white square.

Employers must pay in more from April

Post Thumbnail

Scottish business owners are facing a 3% increase in mandatory pension contributions from April 6.

Where employers make the minimum 3% contribution, employees will have to add 5% in pension auto-enrolment contributions to ensure the minimum 8% total is met.

The existing provision is 2% for employers and 3% for staff.

All businesses operating PAYE payrolls are required by law to make the minimum contributions for all of their qualifying employees.

Linda Kelly, head of payroll with accountant and business advisor French Duncan, said: “Auto-enrolment is a way of offering a method of building up a reasonable pension pot for most people in the workforce.

“This increase in the value of contributions is a further step in building that pension pot at a reasonable rate.”

“It does, however, require business owners to act immediately to ensure that their systems are adjusted to increase the payments from the start of April.

“For businesses paying monthly this is only two pay runs away.

“If companies have not implemented these changes, they must do so straight away.”

Ms Kelly added: “The increases to pensions contributions requirements relate to all auto-enrolment pension schemes and all existing pension schemes apart from defined benefits schemes.

“Business owners will need to let all employees know about these changes.

“Some staff will obviously be making higher contributions from the start of April.”