Pension Changes Auto-Enrolment
There has been a great deal of media coverage recently regarding the changes to Workplace Pensions.
The new law is only applicable for Company’s with more than 1 Employee.
If your Limited Company employs 2 or more staff you must automatically enrol the workers into a workplace pension scheme and contribute towards it if they:
- are aged between 22 and State Pension age
- earn more than £10,000 a year
- work in the UK
This is called automatic enrolment, you will need to take steps to make sure they’re enrolled. Each employer has a staging date when this has to be completed by and this can be found using the following link and entering your PAYE Reference number.
http://www.thepensionsregulator.gov.uk/employers/staging-date.aspx
You will be asked to nominate a contact which should be yourself in the first instance for all communications to be sent.
If you have any further questions regarding this please do not hesitate to contact your Account Manager.