There is a requirement for an annual review of Auto-Enrolment thresholds to make sure that they remain appropriate.
On 06 February 2024, a written statement was released in the House of Commons Library by Paul Maynard, Pensions Minister.
The statement confirms that the 2023/24 thresholds will be frozen for tax year 2024/25 as follows:
|
Annual Threshold
|
2023/24
|
2024/25
|
|
|
£
|
£
|
|
QEB Lower Limit
|
6,240
|
6,240
|
|
QEB Upper Limit
|
50,270
|
50,270
|
|
Earnings Trigger
|
10,000
|
10,000
|
For common Pay Reference Periods, the above translates as follows:
|
Auto-Enrolment Thresholds 2024/25
|
|
|
Weekly
|
2 Weekly
|
4 Weekly
|
Monthly
|
Quarterly
|
6 Monthly
|
|
|
|
£
|
£
|
£
|
£
|
£
|
£
|
|
|
QEB Lower Limit
|
120
|
240
|
480
|
520
|
1,560
|
3,120
|
|
|
QEB Upper Limit
|
967
|
1,934
|
3,867
|
4,189
|
12,568
|
25,135
|
|
|
Earnings Trigger
|
192
|
384
|
768
|
833
|
2,499
|
4,998
|
|
For Bookkeepers
Knowing this information ahead of the start of the tax year is good. The statement says:
We want to ensure that our approach continues to enable individuals, for whom it makes economic sense, to save towards their pensions whilst also ensuring affordability for employers and taxpayers.
