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Auto Enrolment Pension Schemes What an Employer Needs To Do

One of the issues that you have when running a business is that of pension auto-enrolment. Since October 2012, employers have been required to enrol employees into their pension scheme automatically unless they do not qualify.<br>

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Auto Enrolment Pension Schemes What an Employer Needs To Do

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  1. Auto Enrolment Pension Schemes: WhatanEmployer NeedsToDo

  2. Oneoftheissuesthatyouhavewhenrunningabusinessis thatofpensionauto-enrolment.SinceOctober2012, employers have been required to enrol employees into their pensionschemeautomatically unlessthey donot qualify. In order to be enrolled, an employee must be over the age of 22 and under the state pension age. They must also be earning over £10,000 a year. Both you and the employee havetopaycontributionstothepensionscheme.

  3. You may have other workers who are not eligible to join your pension scheme. A non-eligible employee is one who is earning above £10,000 per year and is aged between 16 and 21 or aged between state pension age and 74, or is earning between £6,136 and£10,000peryearandisaged16-74. There may also be a situation where you have an employee who is earning less than £6,136 a year and is aged between 16 and 74. Thisemployeeisan“entitled”workerandiftheyasktojoinyour pensionscheme,youmustenrolthemintoit,butinthisinstance, youdonothavetopayanycontributions.

  4. Autoenrolmentcangetconfusing Auto enrolment pensions can get quite confusing because there are other things that can happen, but at Pay Check, as one of the foremost payroll outsourcing companies in the UK, we can deal with this for you as well as your payroll. You might, for instance, be a start-up and have an entitled worker, but you don’t have a pension scheme, but that entitledworkeraskstojoinit.Inthiscase,youhavetosetoneup. You can be in a situation where you have auto-enrolled an eligible worker, but that worker can ask to opt out, which they are entitled to do.

  5. ContactUs PayCheckLimited Address FirstFloor,BatterseaStudios,82Silverthorne Road,London MailID- info@paycheck.co.uk Website-https://paycheck.co.uk/

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