Enrolment Pension Scheme

The Government wants to encourage all of us to save for our retirement. Every employer, including us, must enrol their workers in a qualifying pension scheme if they are not already in one – this is called automatic enrolment.

The Clever Fish Recruitment has chosen NEST to coordinate our pension scheme. NEST are an experienced provider of workplace pensions in the UK. For further information on NEST please visit their website for more information http://www.nestpensions.org.uk/

Our automatic enrolment date is 1st July 2014.  This means that from this date onwards we are legally obliged to enrol workers in a pension scheme if they qualify to be entered into one.

Who does this affect?

PAYE temporary workers

To be eligible you must:

– be at least 22 years old and under State Pension age
– earn more than the Earnings Trigger which is currently £9,440 per annum (equal to £787 per month or £182 per week) and
– Work in the UK

PLEASE NOTE: the amount of pension contribution payable is only paid between a threshold £5668 (£109 pw) and £41450 (£797 pw) – works like NI free pay.

Umbrella workers – It is the Umbrella Company’s responsibility to arrange pension provisions for any PAYE Umbrella workers.

*Please note, the Umbrella Company’s will have differing staging dates to The Clever Fish Recruitment and therefore will not offer a pension until they stage.

Limited workers – EXCLUDED

Opting Out of Enrolment Pension Scheme

Workers do have the option to opt out of the pension scheme if they wish. If they decide to OPT OUT then we must legally re-assess them every three years. Please note an Individual cannot OPT OUT before they have been placed in the scheme – they must be in the scheme in order to opt out.

The individual has 4 weeks from the date the JOINER PACK is produced from the (pension company you choose). If it is within the 4 week period they will receive a refund of any contributions they have already paid.

If when assessed on (the week after your staging date) it is found the worker is not eligible they will go back into postponement for a further 3 months when after this time they will be assessed again – the Individual is only assessed every 3 years if they have opted out.

Please note, if the worker is already in a workplace pension scheme that meets the Government’s standards, they will not be automatically enrolled into a government pension.

Additional Information

Please see the following links for additional information or feel free to call us if you require any further guidance.

http://www.thepensionsregulator.gov.uk/automatic-enrolment.aspx

https://www.pensionsadvisoryservice.org.uk/about-pensions/pensions-basics/automatic-enrolment

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