Automatic Enrolment Retirement Savings System Act 2024 section 59

Payment of participant contribution and employer contribution

Section 59 requires employers to calculate and deduct participant contributions from emoluments, calculate employer contributions, and pay both to the Authority in accordance with payroll notifications.

• On receiving a payroll notification, the employer must calculate the participant's contribution, deduct it from their emoluments, and pay it to the Authority on or before making the payment of emoluments.
• At the same time, the employer must calculate the employer contribution due on the same emoluments and pay that to the Authority as well.
• Both the participant contribution and the employer contribution must be calculated in accordance with the payroll notification issued in respect of the participant.
• Once the employer pays a deducted participant contribution to the Authority, the employer is legally discharged of that amount as if it had been paid directly to the employee.