Pensions Regulator Guidance: Tax Year Ending 2020 Rates
This guide outlines the process and considerations for uplifting auto-enrolment contribution rates in the UK.
|Do not initiate this process until after the final pay run of the Tax Year|
How to do the pension percentage uplift for new year
Do a Global search for “Saved Mass Updates”
Select “PR-UK Uplift Pension Contribution Rates” from the list when it comes up.
Please review the above and ensure the percentages are as you want.
Please note if you change the ER or EE percentages on the left – you will need to change the criteria in the middle to reflect this.
(for relief at source pension please use the full pension percentage the process will adjust for the 20% tax relief)
In section 1 above you are able to select if you want to update the current pay components or end date current ones and set up new ones.
If you select that you are setting up new pay components you will need to put a start date in section “2” (this will end date the previous pay components the day before the date you put in).
When happy that the percentages are correct select Preview.
Please then review from the list the changes it is going to make (allowing you to untick employees you don’t want to update) when you have reviewed and you are happy with the changes please select Perform update.