Workplace Pensions Re-enrolment

Image result for workplace pensions re-enrolmentRe-enrolment

Every three years you must put certain staff back into a pension scheme.

This is called ‘re-enrolment’

Your re-enrolment duties must be carried out approximately three years after your automatic enrolment staging date.  Your duties will vary depending on whether you identify that you have staff to re-enrol, or whether you have no staff to re-enrol.  Either way, you will need to complete a re-declaration of compliance to tell the Pensions Regulator how you have met your duties.

Remember, re-enrolment and re-declaration is your legal duty and if you don’t act you could be fined.

There are 3 stages for you to follow:

  1. Choose your re-enrolment date – you should do this now
  2. Assess your staff – do this on your re-enrolment date
  3. Write to staff you have re-enrolled – do this within 6 weeks of your re-enrolment date

More help and advice can be found here

A Reminder of Wage Changes from April 2019

The rates are as follows:

Year 25 and over 21 to 24 18 to 20 Under 18 Apprentice
April 2018 (current rate) £7.83 £7.38 £5.90 £4.20 £3.70
April 2019 £8.21 £7.70 £6.15 £4.35 £3.90

National Insurance Category Letters

HMRCEmployers use an employee’s National Insurance Category Letter when they run payroll to work out how much they both need to contribute.

Most employees have category letter A.  Employees can find their category letter on their payslip.

Category letter Employee group
A All employees apart from those in groups B, C, J, H, M and Z in this table
B Married women and widows entitled to pay reduced National Insurance
C Employees over the State Pension Age
J Employees who can defer National Insurance because they’re already paying it in another job
H Apprentice under 25
M Employees under 21
Z Employees under 21 who can defer National Insurance because they’re already paying it in another job

Category letter X

Employers use category letter X for employees who don’t have to pay National Insurance, for example because they’re under 16.

Workplace Pensions – Changing Jobs

What happens to your pension if you change jobs?

Pensions-AE-Word-CloudYour workplace pension still belongs to you. If you do not carry on paying into the scheme, the money will remain invested and you’ll get a pension when you reach the scheme’s pension age.

You can join another workplace scheme if you get a new job.

If you do, you may be able to:

Ask your pension providers about your options.

Get help and advice

You can get free, impartial information about transferring your pension from:

You can also get impartial advice about workplace pensions from an independent financial adviser. You’ll usually have to pay for the advice.

You can find more detailed information here