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Pension Auto Enrolment.
FREE No obligation advice.

Did you know, from 2012, all employers with one worker or more will be required to enrol all eligible jobholders into a workplace pension scheme and will also need to make an employer contribution. This is known as automatic enrolment. 

This is the first time employers have been required by law to contribute to their workers’ pensions.

Who is affected:

• Employees ages between 22 and state pension age (and not in a qualifying pension scheme)
• Minimum employer contributions of 3% and minimum total contributions of 8% (8% includes basic rate tax relief on employee contributions).
• If the employer pays the minimum, then the 8% total contribution will comprise: Employer 3%; Employee 4% and Tax Relief 1%.
• Qualifying earnings will be total earnings (i.e. not restricted to base salary) falling within an earnings band, the proposed band is £7,475 to £33,540.
• Sourse: Pensions Act 2008, The Occupational and Personal Pension Schemes (Automatic Enrollment) Regulations 2010. Making Auto Enrollment work, Report for the DWP October 2010.

The Government option is called National Employment Savings Trust (NEST) and is open to all employers. There are other options available, which can be better for the employer and his employees in several ways, with no greater cost outlay.

This is where we can help, DON'T DELAY. contact us TODAY.

Further details on pensions reform can be found at www.dwp.gov.uk/policy/pensions-reform.

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