The Automatic Enrolment (Earnings Trigger and Qualifying Earnings Band) Order 2014
Year | 2014 |
2014No. 623
PENSIONS
The Automatic Enrolment (Earnings Trigger and Qualifying Earnings Band) Order 2014
12thMarch2014
6thApril2014
The Secretary of State for Work and Pensions has considered whether any of the amounts in sections 3(1)(c), 5(1)(c) and 13(1)(a) and (b) of the Pensions Act 2008( 1) should be increased or decreased, as required by section 14(1) of that Act.
A draft of this Order was laid before Parliament in accordance with section 143(4) and (5)(c) of the Pensions Act 2008( 2) and approved by a resolution of each House of Parliament.
The Secretary of State for Work and Pensions makes the following Order in exercise of the powers conferred by sections 14(2), 15A(1) and 144(4) of the Pensions Act 2008( 3).
Citation, commencement and interpretation
1. (1) This Order may be cited as the Automatic Enrolment (Earnings Trigger and Qualifying Earnings Band) Order 2014 and comes into force on 6th April 2014.
(2) In this Order "the Act" means the Pensions Act 2008.
Increase of amounts
2. (1) In sections 3(1)(c) (automatic enrolment) and 5(1)(c) (automatic re-enrolment) of the Act( 4), for "£9,440" substitute "£10,000".
(2) In section 13(1) (qualifying earnings) of the Act( 5)-
(a) in paragraph (a), for "£5,668" substitute "£5,772"; and(b) in paragraph (b), for "£41,450" substitute "£41,865".Rounding of figures
3. For the purposes of sections 3(6B), 5(7B) and 13(2) of the Act( 6), in the case of a pay reference period of a length described in the first row of the table, the rounded figure in respect of the provision of the Act mentioned in the first column of the table is that which appears below the pay reference period which corresponds to that provision.
Table
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)) |
£111 |
£222 |
£444 |
£481 |
£1,443 |
£2,886 |
Section 13(2) (referring to section 13(1)(b)) |
£805 |
£1,611 |
£3,221 |
£3,489 |
£10,467 |
£20,933 |
Revocation
4. Article 3 of the Automatic Enrolment (Earnings Trigger and Qualifying Earnings Band) Order 2013( 7) is revoked.
Signed by authority of the Secretary of State for Work and Pensions. |
|
Steve Webb Minister of State, Department for Work and Pensions |
|
12th March 2014 |
EXPLANATORY NOTE
(This note is not part of the Order)
This Order makes provision under sections 14 and 15A of the Pensions Act 2008 (c. 30)("the Act").
Article 2 increases the amounts in sections 3(1)(c), 5(1)(c) and 13(1)(a) and (b) of the Act. The amount specified in section 3(1)(c) is the amount of earnings that a jobholder must receive before an employer is subject to the duty imposed by section 3 in relation to that jobholder. The amount in section 5(1)(c) is the amount of earnings a jobholder must receive before an employer is subject to the duty imposed by section 5 in relation to that jobholder. Section 13 of the Act provides that a person's qualifying earnings are earnings of more than the amount specified...
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