01603 616300

Or contact your local office

A Guide To Auto Enrolment

November 2014

Auto Enrolment is just around the corner for a significant number of businesses and as with most new legislation coming into effect – the rules are complicated. It is essential that employers understand the new process and are fully compliant as the Pension’s Regulator has already started to fine businesses, with a record number of investigations being implemented last month.

The Basics

Remaining Staging Dates:

Opting Out

Penalties

The Pension Regulator will have the ability to impose penalty notices if an employer does not comply with their new duties:

Auto Enrolment for Employers

Employers need to consider the following key points:

Summary of categories of workers

Age (inclusive) to earnings16-2122- State Pension AgeState Pension Age To 75
Over ‘earnings trigger’ for automatic enrolment (£10,000)Non eligible jobholderEligible jobholderNon eligible jobholder
Between £5,772 and £10,000

Non-eligible jobholder

Under lower earnings threshold (£5,772)

Entitled worker

Summary of employer obligations

 Eligible jobholdersNon eligible jobholdersEntitled workers can ask to join a pension scheme
Auto enrol y n n
Re enrol y n n
Opt in y y y
Mandatory employer contributions y y n
Information obligations y y y

Minimum contributions of “Banded Earnings”

 EmployerEmployeeTax Relief
Oct 2012 – Sept 20171%0.8%0.2%
Oct 2017 – Sept 20182%2.4%0.6%
From Oct 20183%4%1%

For more information about how we can help you with your Auto Enrolment needs, please take a look at our Auto Enrolment service page.

Leave a Reply

Your email address will not be published. Required fields are marked *

Sign up for our news and business insight newsletter

No spam. No waffle. Just useful, practical and valuable news and insight, straight to your inbox. We always protect your personal data.

Aston Shaw Twitter Logo

Might dress up as accountant for #Halloween this year.

About 13 hours ago from Aston Shaw's Twitter via Hootsuite Inc.

Client Login

Secure Document Exchange Login

To request access to use the Client Login feature, please email:


client@astonshaw.co.uk

Username:
Password:

You have Successfully Subscribed!

Secure Document Exchange Login

Please email or call your Client Manager directly to be set up with access or if you have lost your login credentials.


Username:
Password:

You have Successfully Subscribed!