TPR updates COVID-19 guidance on auto enrolment and DC pension contributions

TPR updates COVID-19 guidance on auto enrolment and DC pension contributions

The Pensions Regulator has updated its COVID-19 guidance for employers on automatic enrolment (AE) and defined contribution pension contributions to recognise that from 1 July 2020, staff on furlough under the Coronavirus Job Retention Scheme may work part of the time for their employer. The guidance also recognises that for claims starting on or after 1 August 2020, employers will no longer be able to claim a grant for up to the statutory minimum AE employer contribution.

The Pensions Regulator is working with HM Treasury and the Department for Work and Pensions to feed into the Coronavirus Job Retention Scheme’s central guidance on the pensions element of the grant.

Source: Automatic enrolment and DC pension contributions: COVID-19 guidance for employers

Related Articles:
Latest Articles: