An explanation of the terms used
- Basic pay
Basic pay includes all contractual payments such as salary/wages, and statutory payments like sickness and maternity pay, but it doesn’t include commission, bonuses, overtime and so on. It’s a gross (pre-tax) figure.
- Total contribution
By law, the total minimum contributions (you + employees) needs to be at least 2% if you are using qualifying earnings otherwise 3%.
- Staging date
Your staging date is when you have to start performing your auto-enrolment duties. By law, you'll need a workplace pension scheme in place by this date.
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