Workplace pensions
Understanding Auto-Enrolment Services for Workplace Pensions
Whether as an employer or employee, you’re committed to the auto-enrolment government workplace pension scheme.
To build savings for retirement, both must contribute to an employee’s pension pot, which is then boosted by government tax relief. Employer duties include initiating auto enrolment services for their staff members, so stay ahead of the curve with our workplace pensions auto enrolment advice.
*Your first consultation is free if you meet the qualifying fund threshold.
Your obligations, made simple
Auto-enrolment duties explained
In the UK, every employee must be enrolled in a workplace pension scheme. Considering age and earnings, employers must make a minimum contribution of 3% of their qualifying earnings. Then, they must notify staff and declare compliance, as well as completing ongoing compliance monitoring and re-enrolling every three years.
“Giliker Flynn has supported my business with our pensions obligations, and also helped explain things to our team, to help each individual member of staff really understand the pension benefits […] they’ve given us the confidence that we are dealing with the right pension experts”
For businesses
How we help employers
We’re here to help you:
Choose and set up a scheme- Meet auto-enrolment duties and re-enrolment
- Review your existing scheme & provider
- Communicate the scheme to your staff
Your ongoing responsibilities
Your employer duties don’t start and end with auto enrolment set up. Your ongoing responsibilities include monitoring your staff (for example, if younger employees then cross the £10,000 salary threshold when they reach age 22), maintaining detailed records of your chosen pension scheme and communications with your employees around it, and re-enrolling any eligible staff every three years.
For individuals
How we help employees
Everybody benefits from a pension to rely upon after work. The auto-enrolment scheme gives your employer duties to ensure they’re making financial contributions to your pension too. We’re here to make sure you understand, and can make the most from, your workplace pension.
Our process and fees are all about making everything clear and straight-forward. Our Chartered, FCA-regulated (1015743) firm is here to give you the best, impartial advice to fit your specific needs, whether that’s as a business or as an employee.
We’ll help you decode your current pensions provision and find the best pot for the future. As an employer, we’ll help you work out which provider to choose for your employees, and work through your corporate auto enrolment pension duties.
Because this work has many variables, is complex in nature, and offers many options, we would create a bespoke fee based on the nature of the job you want us to do, rather than provide a standard fee structure.
Straight answers
Workplace Pension FAQs
01What are my auto-enrolment duties as an employer?
As an employer, you are obliged to enrol your staff on a workplace pension, and contribute towards it. Take into account age and earnings, but the minimum employer contribution is 3%. You must notify your staff, and then declare compliance, too.
02What are the minimum workplace pension contributions?
The legal minimum workplace contribution is 8% of an employee’s salary. That’s 3% from the employer, and 5% combined from the employee’s pay and government tax relief.
03Can I switch my workplace pension provider?
Employers can change the business’ pension provider, but the employee cannot force the business to change. Some firms allow staff to periodically remove funds into another pot, and you can transfer any old pension pots into a SIPP (Self-Invested Personal Pension) instead of your current workplace pension, if you want to.
04Who has to be enrolled in a workplace pension?
If you have an employment contract and are aged between 22 and state pension age (66, soon to be 67), ordinarily work in the UK and earn over £10,000 per year, you have to be enrolled in a workplace pension.
Talk to us about your workplace pension today
Call us anytime on 01782 840 590 for an initial conversation on how to make workplace pensions work best for you, whether you’re an employer or an employee.
*Your first consultation is free if you meet the qualifying fund threshold.