Automatic Enrolment Retirement Savings System Act 2024 section 62

Suspension of contributions

Section 62 sets out the rules under which a participant may temporarily suspend their contributions to the automatic enrolment retirement savings system, including the timing restrictions, duration limits, and the Authority's role in specifying procedures.

• A participant may suspend contributions, but not until at least 6 months after their enrolment, re-enrolment, or the end of any previous suspension period.
• A suspension period lasts between 1 and 2 years — the participant may choose an end date within that window, or it automatically expires after 2 years.
• The participant must notify the Authority of their chosen end date, which must fall no earlier than one year and no later than 2 years from the start of the suspension.
• The Authority may publish procedures on its website governing the form, content, and timing of notices to suspend or end a suspension.