Auto Enrolment Pension
As a UK worker, you have the opportunity to secure your financial future with auto enrolment pension. This mandatory workplace initiative requires your employer to automatically enrol you into a pension scheme if you're aged between 22 and State Pension age, earn at least £10,000 per year, and usually work in the UK.
Pension auto enrolment initiative is particularly beneficial for those who may not have considered retirement planning previously, as it guarantees that eligible employees are saving for their future. Enrol in a retirement income today – get a quote now!
Pension Setup
Our starter package covers the essentials for hassle-free procedure, ensuring your business meets legal requirements and supports employee retirement planning.
Package includes:
- Assessment of eligible employees
- Pension scheme selection and setup
- Employee communication materials
- Submission of pension contributions
Pension Enrolment
This package is designed to do the processing through a provider such as Nest, etc.
Benefits of Our Auto Enrolment Pension Service:
To help you comply as simply as possible, we offer online smart pension auto enrolment service in the UK. Get a quote now!
FAQs:
1. What is auto enrolment pension?
It is when an employee meets certain requirements to automatically qualify for a pension plan or scheme. It is a requirement for a company or business to enrol their employees.
2. Why is it important?
It is important because it benefits both the employee and the employer. It is the best way to ensure financial security while following laws and regulations.
3. How important is the timely implementation of it?
To meet the legal requirements and ensure the retirement security of the employees, timely implementation is important.
4. When did pension auto enrolment start?
It started in 2012. In order to have their employees included in a retirement plan, all employers with 50 or more employees are required but may choose not to do so. It applies to all employers in the United Kingdom regardless of the size of the company they own.
5. When does it start for new employees?
It starts on day one of employment. The newly hired employees are automatically enrolled in their retirement savings plan. The contributions of the employer and employee are deducted from their salaries, adding to the defined contribution plan.
6. How much does the scheme pay?
The schemes usually pay 8% of salary up to a specific annual limit. It is also possible that it increases through the contributions made by the employer and the employee.
7. Is it complex?
Yes, it can be complex, but by availing our services, you can avoid these complexities while promoting employee benefits and financial security.
We at Affotax provide the most affordable services with expertise. Do not miss the opportunity – get a quote now!
