What is Auto Enrolment? A workplace Pensions

Posted by Benny Gala on May 7th, 2018

It is good news for you that you can live longer and healthier after your retirement. But we are finding many who can’t live completely after retirement. Because state pension is not enough to live easily; you need to keep working.

 A workplace Pension is Solution of all Problems:

How can you auto enroll your pension? There are some guidelines written and you need to follow these guidelines.

• If you earn more than 10000 euro (in case you earn less than 10000 euro or more than 6500 you are eligible for pension)
• If you are over 22 years old but under state pension age
• If you need to be employ in UK

In the case if you do not meet in these criteria. Your employer would not automatically enroll you. No need to be panic you can join people pensions and ask your employer if you wish.

Payments to your Pensions:

The good about workplace pension is that the payments which are paying to pension are not depending on you. Your employer also contribute and government as well as. Your employer and government will rise 2% of your qualifying earning this year and after 2019 it will be 8% onwards.

Minimum Pension:

Minimum contribution is based on qualifying income. These incomes are a section of workers’ pay. For the tax year 2018/19 this is everything over 6032 euro to 46350.

Scheme Management System:

This is for employer that it is important for them to understand and well know their roll in good running pension scheme. There are many areas and duties are focused. The role of government is also important in relief of taxation to the employer and employ. The gov.co.uk website published all guidelines about auto enrolment and workplace pension. You need to just visit government website and read all instruction applies for workplace pensions.