The Automatic Enrolment (Earnings Trigger and Qualifying Earnings Band) Order 2014

JurisdictionEngland & Wales
CitationSI 2014/623

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)...

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