The annual review of the Automatic Enrolment also known as Work Place pensions, earnings thresholds has now been completed.
The government intends to lay an Order before Parliament in the New Year which will include the following, for 2017/18:
£45,000 for the upper limit of the qualifying earnings band;
£5,876 for the lower limit of the qualifying earnings band.
The automatic enrolment earnings trigger will be frozen at £10,000.
Peter Anstee from Anstee & Co said-
“It’s important that you constantly review your auto enrolment (workplace pension) solution. Unfortunately, auto enrolment is on going and will not go away. We can help employers of all sizes with cost effective solutions”.
For more information about auto enrolment also referred to as workplace pensions check out The Pensions Regulators website.
How we can help you with auto enrolment.
We have a team of financial adviser that can help you with auto enrolment also known as workplace pensions. The financial advise is at our cost at the first meeting. Meetings can be at a time and location that is convenient to you.
We have offices in Stamford Kettering and London. We make use of meeting rooms in Wellingborough, Towcester, Northampton and Bedford. The team of expert financial advisers cover Northamptonshire, Lincolnshire, Bedfordshire and Warwickshire.
For more ways of contacting us click here.
Implementation of Automatic Enrolment / Workplace pensions.
Anstee & Co will be with you every step of the way to help you decide the best way forward for your business, backed by our experienced advisers and administration staff.
In summary, to prepare for automatic enrolment all employers will need to nominate a point of contact in your business to receive updates from The Pensions Regulator. This will ensure you stay informed regarding staging dates, keeping records, pension arrangements and the enrolment process for all of your workforce. Why not contact us today to see how we can help.