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.
Mr & Mrs Eleini, Shoreham by Sea
Thank you and the team for all of your efforts and good advice
I just wanted to let you know it was a good to meet you last week, and to thank you and the team for all of your efforts and good advice in looking after our savings. We have great confidence in you and Pembroke.
Mr & Mrs H, Seaford
Delighted with the results
We want to thank you very much for your stewardship. I know that it is your professional attention to detail and your objective involvement which is responsible, but you do seem to have that extra “flair” – and its working well for us.
