The Automatic Enrolment (Earnings Trigger and Qualifying Earnings Band) Order 2015
Citation, commencement and interpretation1.
(1)
This Order may be cited as the Automatic Enrolment (Earnings Trigger and Qualifying Earnings Band) Order 2015 and comes into force on 6th April 2015.
(2)
In this Order “the Act” means the Pensions Act 2008.
Increase of amounts2.
In section 13(1) of the Act (qualifying earnings)—
(a)
in paragraph (a), for “£5,772” substitute “£5,824”; and
(b)
in paragraph (b), for “£41,865” substitute “£42,385”.
Rounding of figures3.
1 week | 2 weeks | 4 weeks | 1 month | 3 months | 6 months | |
---|---|---|---|---|---|---|
Sections 3(6B) and 5(7B) | £192 | £384 | £768 | £833 | £2,499 | £4,998 |
Section 13(2) (referring to section 13(1)(a)) | £112 | £224 | £448 | £486 | £1,456 | £2,912 |
Section 13(2) (referring to section 13(1)(b)) | £815 | £1,631 | £3,261 | £3,532 | £10,597 | £21,193 |
Revocation4.
Signed by authority of the Secretary of State for Work and Pensions.
This Order makes provision under sections 14 and 15A of the Pensions Act 2008 (c. 30) (“the Act”).
Article 2 increases the amounts in section 13(1)(a) and (b) of the Act (qualifying earnings) which provides that a person’s qualifying earnings are earnings of more than the amount specified in subsection (1)(a) of that section and not more than the amount specified in subsection (1)(b) of that section.
Article 3 specifies rounded figures for the purposes of sections 3(6B), 5(7B) and 13(2) of the Act. The amounts specified in sections 3(1)(c), 5(1)(c) and 13(1) (as increased by article 2) of the Act are in relation to a pay reference period of 12 months. Sections 3(6B), 5(7B) and 13(2) provide that, where a pay reference period is less or more than 12 months, the amounts specified in sections 3(1)(c), 5(1)(c) and 13(1) apply as if they were proportionately less or more. This article prescribes rounded figures in respect of pay reference periods of less than 12 months.
Article 4 revokes article 3 of the Automatic Enrolment (Earnings Trigger and Qualifying Earnings Band) Order 2014 (S.I. 2014/623).
An analysis of the impact of this legislation has been made. The analysis is published with the Government’s response to the public consultation on the automatic enrolment earnings thresholds review and revision for 2015/2016 on https://www.gov.uk/government/consultations/workplace-pensions-automatic-enrolment-review-of-earnings-threshold.