Pension Auto Enrolment
Auto enrolment is the latest attempt by Government to reinvigorate pension saving in this country. As a company director or business owner, it is your obligation to enrol eligible jobholders in a workplace pension scheme unless they are already a member of a Qualifying Scheme. But don’t worry – We will deal with everything so you don’t have to!
You will ultimately be required to contribute a minimum of 3% of qualifying earnings between £5,772 and £41,865 and your employee will have to contribute 4%, which, together with tax relief of 1%, will make a total of 8%. These amounts are being phased in over the next few years.
All employers now have a ‘Staging Date’ assigned to them, which is the date by when you need your scheme in place or you can face daily penalties of potentially £500 per day. To obtain your staging date please input your PAYE reference number here:
We can help you understand the issues and requirements of workplace pensions and offer guidance to ensure your business complies with the new rules in the most cost effective way.
Watch the Workplace Pension TV Ad below
Harrison Hinchliffe Financial Services are provided by Capstone Financial Management Ltd who are a Partner Practice of St. James’s Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority). Capstone Financial Management Ltd is registered in England & Wales No. 09225559. Registered Office: Manor House 35 St. Thomas’s Road Chorley England PR7 1HP.