The Pensions Regulator has reported over 8 million employees are now saving for retirement in a workplace pension due to auto enrolment. Here’s whats happening next…
NEXT STAGING DATE IS FOR ‘NEW EMPLOYERS’
The next staging is for ‘new employers’ – who implemented a PAYE scheme anytime from 1 April 2012. They staged from May up to February 2018. We can help employers select the best scheme to offer staff the benefit of having their pensions managed in a stable and structured way over the long term.
The next staging is for ‘new employers’ – who implemented a PAYE scheme anytime from 1 April 2012. They staged from May up to February 2018. We can help employers select the best scheme to offer staff the benefit of having their pensions managed in a stable and structured way over the long term.
RATE INCREASE
Minimum contributions are increasing in two phases. The first increase must be in place from 6 April 2018 and the second from 6 April 2019. Guidance by The Pension Regulator has been issued to help employers understand how the increases are to be implemented.
Minimum contributions are increasing in two phases. The first increase must be in place from 6 April 2018 and the second from 6 April 2019. Guidance by The Pension Regulator has been issued to help employers understand how the increases are to be implemented.
RE-ENROLMENT THREE YEARS ON
Many firms will be coming up to their re-enrolment period. This must be carried out either 3 months prior or after the 3rd anniversary of your staging date. Staff who originally opted out must be placed back into a suitable scheme along with other duties such as completing a re-declaration of compliance.
Many firms will be coming up to their re-enrolment period. This must be carried out either 3 months prior or after the 3rd anniversary of your staging date. Staff who originally opted out must be placed back into a suitable scheme along with other duties such as completing a re-declaration of compliance.
IMPORTANT INFORMATION
The value of investments can go down as well as up, so you could get back less than you invested.
Past performance is not a guarantee of future investment returns.Your home may be repossessed if you do not keep up repayments on your mortgage.
Past performance is not a guarantee of future investment returns.Your home may be repossessed if you do not keep up repayments on your mortgage.
Clarke Nicklin Financial Planning is a trading name of CNFP LLP, Company Number OC324909 and is authorised and regulated by the Financial Conduct Authority.
Expert Opinion contributed by Clarke Nicklin Financial Planning for