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Auto Enrolment Workplace Pension Questions Answered

  • Posted by Rizwan on July 24th, 2015 (Pensions)

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

Written by Rizwan

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