The Automatic Enrolment (Earnings Trigger and Qualifying Earnings Band) Order 2012
2012 No. 1506
Pensions
The Automatic Enrolment (Earnings Trigger and Qualifying Earnings Band) Order 2012
Made 14th June 2012
Coming into force 15th June 2012
The Secretary of State for Work and Pensions has reviewed the amounts in sections 3(1)(c), 5(1)(c) and 13(1)(a) and (b) of the Pensions Act 20081as required by section 14(1) of that Act and considers that each of those amounts should be increased.
A draft of this Order was laid before Parliament in accordance with section 143(4) and (5)(c)2of the Pensions Act 2008 and approved by a resolution of each House of Parliament.
Accordingly 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:
Citation, commencement and interpretation
1.—(1) This Order may be cited as the Automatic Enrolment (Earnings Trigger and Qualifying Earnings Band) Order 2012 and comes into force on the day after it is made.
(2) In this Order “the Act” means the Pensions Act 2008.
Increase of amounts
2.—(1) In sections 3(1)(c) and 5(1)(c) of the Act (automatic enrolment), for “£7,475” substitute “£8,105”.
(2) In section 13(1) of the Act (qualifying earnings and earnings trigger)—
(a)
(a) in paragraph (a), for “£5,035” substitute “£5,564”; and
(b)
(b) in paragraph (b), for “£33,540” substitute “£42,475”.
Rounding of figures
3. For the purposes of sections 3(6B), 5(7B)3and 13(2) of the Act, 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.
1 week |
2 weeks |
4 weeks |
1 month |
3 months |
4 months |
6 months |
|
Sections 3(6B) and 5(7B) |
£156 |
£312 |
£624 |
£676 |
£2,027 |
£2,702 |
£4,053 |
Section 13(2) (referring to section 13(1)(a)) |
£107 |
£214 |
£428 |
£464 |
£1,391 |
£1,855 |
£2,782 |
Section 13(2) (referring to section 13(1)(b)) |
£817 |
£1,634 |
£3,268 |
£3,540 |
£10,619 |
£14,159 |
£21,238 |
Steve Webb
Minister of State,
Department for Work and Pensions
14th June 2012
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...
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