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.
To provide the accurate costs it’s helpful if you can be as accurate as possible, but don’t worry if you’re not sure. We will save your quote so you can revise it later. If you’re quoting for a workplace pension on behalf of your client, please visit the business adviser quote page
Employers: Looking for a quote for more than one company? Please talk to our experts on 0800 302 9507.