Workplace Pensions & Auto Enrolment
In 2012 the Government introduced Workplace Pensions & Auto Enrolment – mandatory requirements for employers to enrol their employees into a qualifying pension scheme – without employees having to take any action.
Unless an employee decides to opt out of the scheme, all employers will be required to make contributions into a pension scheme on behalf of their employee.
‘Auto-enrolment’ Schemes were staged over a 6-year period, with different staging dates for different companies.
From 6 April 2019, a total minimum contribution of 8% of qualifying earnings (including an employer contribution of at least 3%) is needed in each relevant pay reference period to meet the standard quality test.
This minimum contribution level was the final step-up in a 3-year phased approach to increase auto-enrolment saving.
Employers initially certify their schemes quality testing basis and must renew certification every 18 months (maximum).
The value of your investment can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance. Investing in shares should be regarded as a long-term investment and should fit in with your overall attitude to risk and financial circumstances.
Kate
Orchestrating gains amidst turmoil!
I just received the review and haven’t read it yet but am extremely pleased with the results over the past 6 months on my account – especially in view of the pandemic and crazy, constantly evolving economy we are experiencing recently. Many thanks and congratulations to you and the team for orchestrating gains amidst turmoil!
Mr W Fenton, Hove
Friendly and efficient
I have always found Pembroke friendly and efficient.
