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Auto Enrolment Workplace Pension Questions Answered
We have set-up numerous auto enrolment workplace pension for all types of business over the past 18 months and the following are questions regularly asked:-
Who qualifies?
An employee will be automatically enrolled into the pension scheme if:-
are age at least 22
are under state retirement age
earn more than £10K
work predominately in the UK
How much do we need to contribute?
Contribution limits are as follows:-
To 30 Sept 2017 1% Employer Contribution 1% Employee Contributions
To 30 Sept 2018 2% Employer Contribution 3% Employee Contributions
1st Oct 2018 Onwards 3% Employer Contribution 5% Employee Contributions
Does my National Insurance reduce?
There will be no changes in National Insurance contributions even though you will be making pension contributions.
Do Directors have to join the scheme?
A Director will usually also be an employee and if the meet the above quality criteria they will be automatically enrolled.
If you do have any other question please kindly email me at enquiries@sagegroup.co.uk
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Testimonials
"We have used the services of Sage Financial Management for the past year and we have found them to be extremely professional in their approach. The advice and guidance that we receive is honest, professional and reliable. They are always ready to find the time to meet with you and explain matters in full, in a manner that is appropriate. I will have no doubt in recommending them to friends and family."
Dr Baki, Delta Care Limited, Preston"Sage Financial Management has certainly been very helpful to me and my company. With issues such investments and pension planning I have reaped a lot sound and impartial advice. The advisers are always flexible on meeting arrangements to suit my busy schedule, and advice is in a simple language so it does not take me too long to analyse."
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