Learning Material Sample
Workplace pensions2. Auto-enrolment
Auto-enrolment means that employers must automatically put all eligible jobholders into a qualifying pension scheme from the automatic enrolment date (or from the end of the postponement pe...
Shortened demo course. See details at foot of page. ...nrolment means that employers must automatically put all eligible jobholders into a qualifying pension scheme from the automatic enrolment date (or from the end of the postponement period). An employer may have several categories of employee, but only eligible jobholders have...
Shortened demo course. See details at foot of page. ...eme – ‘banded’ earnings are described in more detail in chapter 3 Employees have to be auto-enrolled into a qualifying pension scheme within six weeks of their automatic enrolment date.
Postponement periods Employers can choose to operate a postponement (or waiting) period of up to 3 months before auto-enrolling their employees. Voluntary opt-in b... Shortened demo course. See details at foot of page. ...pound;6,240), and like non-eligible jobholders, they can ask to be included in a registered pension scheme. However, this doesn't have to be a qualifying scheme, although it does have to be a UK registered scheme, and the employer doesn't have to make contributions, although they can. Any employee can opt out of a pension scheme they've been auto-enrolled into by giving their employer a valid opt-out notice within a month of being auto-enrolled. The employer must tell the employee that they have the right to opt-out and how to get the appropriate form from the scheme administrator.
The employee must give their employer the opt-out notice within one month of the later of: The date active membership of the scheme was achieved; or The date they had received the employer’s letter containing the enrolment information This is known as the opt-out period. It's not possible to opt out in advance of being auto-enrolled. When the employer tells the scheme administrator of the opt-out notice received, the scheme administrator will treat the employee as though they had never joined the scheme on that occasion. The employer will then give the employee a refund of any contributions they may have already made. Where the relief a... Shortened demo course. See details at foot of page. ...ally re-enrol them into a qualifying pension scheme every three years.Further information can be found on the Pension Regulator's website. There are some exceptions for employers from the duty to auto-enrol or to re-enrol workers: Condition for employer exception to apply The employer has an optional duty to: The employer has no duty to: Where either the worker or the employer has provided notice to terminate employment Auto enrol or re-enrol Where the worker has pension savings with transitional protection Auto enrol or re-enrol Where the worker has ceased active membership of a qualifying scheme Auto enrol or re-enrol Where the trustees of an occupational defined contribution scheme have paid a winding up lump sum whilst in employment, and during the 12 month period that started on the date the payment was made, they ceased employment and were subsequently re-employed by same employer Auto enrol The Pensions Regulator (TPR) is the UK regulator of workplace pension schemes; they make sure that employers put their staff into a pension scheme and pay money in...
Shortened demo course. See details at foot of page. ...nimum of six years, with the exception of those relating to opt-outs, which must be kept for four yearsProduce those records for the regulator, if requested |
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