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.
Alison Hutchinson, Shoreham-by-Sea
We feel ‘looked after’ by you
We are more than happy with the way you, Stuart and anyone else involved at Pembroke have dealt with our pensions/transfers. You have always explained things in a way that’s easy to understand without being patronising and we feel ‘looked after’ by you. The pension transfer too was so easy and I have been kept informed every step of the way.
Mr Cooper, Lowestoft
Professional handling of financial affairs
May I use this opportunity to thank Cindy and Keith for the professional way that you have always handled my financial affairs. As a satisfied customer, I would be very happy to recommend Pembroke Financial Services to any of my friends and family.
