About Workplace Pensions
A workplace pension is a way of saving for your retirement that's arranged by your employer. Some workplace pensions are called 'occupational', 'works', 'company' or 'work-based' pensions.
How they work
A percentage of your pay is put into the pension scheme automatically every payday. In most cases, your employer also adds money into the pension scheme fro you. You may also get tax relief (https://www.gov.uk/tax-on-your-private-pension/pension-tax-relief) from the government.
Joining a Workplace Pension
By 2018 all employers must provide a workplace pension scheme. This is called 'automatic enrolment'.
Your employer must automatically enrol you into a pension scheme and make contributions to your pension if all of the following apply:
Use the staging date calculator (http://www.thepensionsregulator.gov.uk/employers/tools/staging-date.aspx) to checkwhen you could be enrolled. (Your employer can delay the date they enrol you in certain circumstances.) The calculator is for employers but also works for employees.
When your employer doesn't have to automatically enrol you
Your employer usually doesn’t have to automatically enrol you if you don't meet the previous criteria or if any of the following apply:
You can usually still join their pension if you want to. Your employer can't refuse.
If your income is low
Your employer doesn't have to contribute to your pension if you earn less than:
What happens when you're automatically enrolled
Your employer must write to you when you've been automatically enrolled into their workplace pension scheme. They must tell you:
Delaying your enrolment date
Your employer can delay the date that they must enrol you (http://www.thepensionregulator.gov.uk/employers/staging-date.aspx) into a pension scheme by up to 3 months.
In some cases they may be able to delay longer if they've chosen either:
Your employer must:
What your employer can't do
Your employer can't:
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