Auto Enrolment – are you clear on your obligations?
One of the biggest changes in pension funding has been introduced by the Government.
This is called Auto Enrolment and started in October 2012. Every employer will have to offer access to a pension arrangement to every employee aged between 22 and State Pension Age and earning over the ‘earnings trigger’ (£192 if employees are paid weekly, £833 if employees are paid monthly and £10,000 if employees are paid annually for 2017/18).*
As an employer, you will ultimately be required to contribute a minimum of 3% of qualifying earnings (between £5,876 and £45,000) and your workers will have to contribute 5%, making a total of 8%. These amounts are being phased in over a six and a half year period which started in October 2012.
It is important to understand your obligations and duties as an employer to avoid being fi ned or charged penalties.
If you have an existing pension scheme it may be that this can be used to meet your obligations. If it doesn’t or you do not have a scheme, then you will need to decide how best to meet the Auto Enrolment requirements.
You need to understand what a Qualifying Scheme (QS) is, what the Auto Enrolment process will be, how it will work, what duties you must comply with to support the new QS and, perhaps most importantly, when you need to comply with the new rules.
Preparation and planning is key for all businesses in order for them to understand and determine the impact it will have on them. If you have yet to consider how this will affect you, we are offering a convenient opportunity for you to fi nd out more.
• There is a staged approach with only the largest employers starting from October 2012. You can discover when your company will have to comply with the new rules by visiting www.
thepensionsregulator.gov.uk/employers/tools/ staging-date.aspx
In light of our recent successful seminars, we have decided to extend our invitation to a wider audience. If you are a Business Owner or Company Director and would be interested in a one to two hour seminar at your place of work, please do contact me on the details below. This no obligation seminar would be at my business expense and at no cost to you.
Please visit my website or contact me to receive a complimentary guide covering Wealth Management, Retirement Planning or Inheritance Tax Planning.
Scott Symes
APFS DipPFS DipFA CeMap Chartered Financial Planner
01202 951227 07885 899742
scott.symes@
sjpp.co.uk www.scottsymeswm.co.uk
* The value of a pension will be directly linked to the performance of the funds selected and may fall as well as rise. You may get back less than the amount invested.
The Partner represents only St. James’s Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority) for the purpose of advising solely on the Group’s wealth management products and services, more details of which are set out on the Group’s website at
www.sjp.co.uk/products. The ‘St. James’s Place Partnership’ and the title ‘Partner’ are marketing terms used to describe St. James’s Place representatives.
Are you looking for a professional and reliable company to care for your window cleaning needs?
P.G. CARPENTRY AND PROPERTY IMPROVEMENTS
07725 659608 •
pwgridley@gmail.com Kitchens • Bathrooms • Decking
Fencing • Property Maintenance 56
l Internal and external windows l Gutters, fascias and soffits l Conservatories l Solar panels l Gutter clearance l Fully insured
T: 01202 690538 / 07729 338399 • E:
info@lclwindowcleaning.co.uk www.
lclwindowcleaning.co.uk
To advertise, please contact 01202 657317 or email
karen@broadstonelink.co.uk
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76
