Pension Auto Enrolment
Pension Auto Enrolment is now a reality for many UK companies.
Auto enrolment legislation has been designed to encourage a retirement savings culture in the UK. This legislation requires all employers to automatically enrol some or all members of their workforce (depending on age and salary level) into a pension scheme that meets certain minimum standards.
Some workers will also have the right to ask their employer to enrol them into an auto enrolment pension scheme. Depending on the worker’s age and salary level, employers may be required to make contributions to this pension scheme, adding to the contributions made by their workers.
Auto enrolment will be phased in over 5 ½ years. It started in October 2012, with the largest employers leading the way, followed by medium-sized employers and lastly small and micro employers. The size of an employer’s largest PAYE scheme will determine at what point the new duties affect their organisation.
To offer our contractors the best possible service, we partnered with NOW: Pensions, who have 45 years of experience from ATP, in auto enrolling employees into cost-effective pensions that perform, and know how to make Auto Enrolment work for both employers and employees.
To read more about auto-enrolment you can have a look on the Now:Pensions website.
Questions on Auto-Enrolment? Click above or Call Now:Pensions