Changes in pension law in 2012 now mean that all eligible employees must be automatically enrolled into a workplace pension scheme. The aim of this is to help more people have another income on top of the State Pension when they retire.
This came into effect on the 1st May 2013 for Warwickshire County Council employees and applies to local Government, teaching and fire and rescue staff.
To be eligible for auto enrolment you must be:
- Between the ages of 22 and State Pension Age
- Earn more than £10,000 per annum as of 6th April 2014 – this includes any additional payments you receive above your basic salary e.g. overtime
- Work in the UK
If you are not currently eligible for auto-enrolment but then meet criteria at a later date you will receive correspondence confirming that you will be auto enrolled.
Further information can be found at www.gov.uk/workplace-pensions
Workplace pensions – automatic re-enrolment
Changes in pension law now mean that all eligible employees must be automatically re-enrolled into a workplace pension scheme every 3 years.
If you are not currently eligible for automatic re-enrolment but then meet criteria at a later date you will receive correspondence confirming that you will be auto enrolled.
There are a range of exceptions that may mean you won’t be re-enrolled. Such as if:
- you opted out of your pension within the year leading up to the next automatic re-enrolment date which is 1 May 2019
- you’re under notice of dismissal, resignation or retirement; or
- your pension savings exceed the lifetime allowance and/or you have informed us of your relevant ‘protection’ from HMRC.
PLEASE CONTACT YOUR EMPLOYERS HR DEPARTMENT FOR MORE INFORMATION