The Government wants to encourage all of us to save for our retirement. So, every employer, including us, must enrol their workers into a qualifying pension scheme if they are not already in one.
The company must pay a minimum contribution of 1% on qualifying earnings (2% total) rising to 3% (8% total) by April 2019.
SmartWork has joined forces with The People’s Pension, a non-profit pension provided by B&CE. The People’s Pension provides support for over 1000 businesses in the UK.
You will automatically be opted into The People’s Pension on this date if you meet the below criteria:
- You’re at least 22 years old
- You’re under State Pension age
- You earn more than the £10,000 per annum (equal to £768 per month or £192 per week)
- You usually work in the UK
Once an employee has been enrolled into the pension scheme, they can remain if they wish to. However, they also have the opportunity to opt out within a set period or leave the scheme at a later date. Details of how to opt out will be contained in your joining pack which will be supplied by The People’s Pension Group.
Paying into a pension provide financial stability for your future. With SmartWork as your employer, you can feel secure knowing that we will make the automatic enrolment process simple and seamless. Our team can be contacted via Pensions@SmartWork.com