13 December 2016
Santa did not sign up for a pension scheme and failed to auto enrol his elves. Don’t get caught out! Make your list, check it twice, set up your scheme, no trouble or strife!
As we draw to the end of the year, we have compiled an auto enrolment checklist for employers who are approaching their staging dates or about to embark on the auto enrolment process...
Minimum Means Minimum
05 December 2016
In our recent blog post, which you can read here, we briefly touched upon young people’s attitudes towards pensions, and how little attention is paid towards their funds so early on in their professional lives. With the introduction of auto-enrolment, this has forced those in their twenties into contributing towards their pension funds with an initial minimum contribution of 1% of their salary, which will be matched by the employer’s contribution of 1%...
Auto enrolment: It's only just begun
28 November 2016
The UK is one of many countries, including China, Japan and the USA, to be facing an ageing population. Whilst this is great news for the UK’s current retirees who are able to benefit from a healthy government pension it does pose one key concern. With an ageing – and also increasing – population, a strain is inevitably being put on the government’s pension funds. Taking this into consideration, there have already been talks to raise the automatic enrolment (AE) contribution to 12.5% by 2028.
Securing your next AE gig
22 November 2016
The ‘gig-economy’ is a term cropping up more and more, and refers to the environment where workers can operate under a contractor basis for an organisation. For example; Deliveroo, Uber, Etsy and Airbnb. With gig economies, the appeal is there. A short term solution for many to earn an income in an uncertain job market is proving to be a sure way to earn some money with flexible working hours. However, a potentially short term solution still has long-term rights which affect their future...
Pensions, Penalties and Punishments
14 November 2016
An increasing hot topic in the realm of AE includes the rising level of penalties being issued by The Pension Regulator (TPR) which many companies are still struggling to adhere to. Simply put, employees who meet a certain criteria must be enrolled in a pension scheme by their staging date. No head in the sand, no turning a blind eye – NO EXCUSES. This post will reinstate why it is so important to ensure your employees and clients are enrolled in a pension scheme as soon as possible...
The partnership that is cutting auto enrolment admin time
04 November 2016
The recent partnership between OptEnrol and pensionsync has created a number of benefits for OptEnrol clients to make the AE process simpler by the day. As an employer, you may often wonder, ‘What happens when making the first steps into the AE process? Where do we begin?’ With a range of pensionsync’s useful guides and resource saving calculator, clients can now piece together what AE means to them, and how the partnership can assist in outsourcing AE needs.