Auto Enrolment

Auto Enrolment has been coming for a long time and our wonderful Payroll team have been hard at work getting options ready for you that keep you compliant and your staff well looked after. The important thing to remember is that we take care of the details to make sure that you don’t get caught out, taking care of that one extra thing on your business plate. That being said, there is still a decision to make about what works best for your company.

Option 1

An excellent pension scheme that comes with extra employee benefits, this pension comes with access to an IFA directly, who will visit your business and an discuss any employee or employer queries directly. This pensions comes with –

  • A portal so your employees can decide how their pension scheme will be managed.
  • Excellent returns.
  • A website with extra discounts and personal tool incentives.
  • Direct access to an IFA.
  • We administrate everything to make sure your company complies with all aspects of auto-enrolment.

Option 2

A pension scheme directed more at smaller businesses looking to comply with The Pension Regulator. This is a great option to make sure your employees’ pensions are put into a compliant scheme. This pensions comes with –

  • A portal so your employees can decide how their pension scheme will be managed.
  • We administrate everything to make sure your company complies with all aspects of auto-enrolment.

What will the monthly contributions be?

Pension contributions at 1% (Employer & Employee) until 05/04/2018
Pension contributions at 2% Employer, 3% Employee from 06/04/2018 until 05/04/2019
Pension contributions at 3% Employer, 5% Employee from 06/04/2019 until further notice

(Above costs vary for different sized companies.)

Minimum Wages Rates from 1st April 2017

Year 25 and over 21 to 24 18 to 20 Under 18 Apprentice
2017 £7.50 £7.05 £5.60 £4.05 £3.50
2016 £7.20 £6.95 £5.55 £4.00 £3.40
2015 £6.70 £6.70 £5.30 £3.87 £3.30
2014 £6.50 £6.50 £5.13 £3.79 £2.73
2013 £6.31 £6.31 £5.03 £3.72 £2.68
2012 £6.19 £6.19 £4.98 £3.68 £2.65
2011 £6.08 £6.08 £4.98 £3.68 £2.60
2010 £5.93 £5.93 £4.92 £3.64 £2.50

But I have more questions?

Want to know more details about auto enrolment, or maybe the specific pension options available? Give us a call and we can go over with the details.