Auto Enrolment

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The Government have introduced a new pension law to get more people saving for their future. The new employer duties are being introduced over 6 years, starting with the UK’s largest companies from October 2012. As an employer, you will have new duties in relation to everyone working for you who are aged between 16 and 74; who works in the UK.

Once you’ve reached your auto enrolment staging date, your payroll cannot be closed without taking into account your auto enrolment duties. Your workforce needs to be assessed to determine which of the following categories they fall into. Initially this assessment is required on the staging date, but your duties don’t just stop once you’ve enrolled all your staff – they become part of your business as usual. You must assess each member of your staff every time your payroll is run in order to determine whether or not contributions must be made.

Workers fall into 3 categories:

Eligible jobholder:
* Aged between 22 and state pension age
* Annual earnings between £10,000 and £42,384 per annum
* Must be automatically enrolled

Non-eligible jobholder:
* Aged between 16 and 74
* Annual earnings between £5,832 and £10,000
* Has a right to opt-in and if so, employers must contribute

Or

*Aged between 16 and 21 or between state pension age and 74

*Annual earnings in excess of £10,000 per annum

Entitled worker:
* Aged between 16 and 74
* Annual earnings less than £5,832
* Has a right to join but employers do not have to contribute

All figures are based on the current financial year

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● Providing you with a personalised sign-up form relevant to your company information
● Taking care of registering your company with The People’s Pension
● Providing ongoing maintenance for Auto Enrolment activity in each pay period
● Processing Opt-Out, Opt-In refunds and requests
● Uploading your pension details direct to The People’s Pension
● Guaranteed compliance with legislation!

 

We’ve learnt the new ‘language’ so depending on your required level of understanding,
you may not now need to!