Find out how this works in more detail in our guide to pension auto-enrolment. This requirement is known as automatic enrolment (or the auto-enrolment duty) and it applies to all staff who: are aged between 22 and the State Pension age; earn at least £10,000 per annum; work in the UK If your payroll application doesn’t calculate pension contributions, read on to see how you can use our tool to assess your employees and calculate their contributions in one go.. Auto-enrolment is a departure from the way workplace pension schemes traditionally worked. It shows you the pension contribution minimum for employers and employees based on Qualifying Earnings. Automatic enrolment puts you into the scheme, but it’s up to you if you wish to leave the pension scheme. Qualifying earnings are the earnings between a lower and upper limit. The whole of the employee’s basic earnings are taken into account when calculating their contributions. OC333840) of The Annex, Oathall House, Oathall Road, Haywards Heath, West Sussex, England RH16 3EN. Your company may use People's Pension as a way of saving for retirement. Now, under auto-enrolment, employees are automatically put into their workplace pension scheme – though they can still choose to opt out. Introduced by the Government in 2012, the legislation was first rolled out to large employers, followed by medium-sized, and then small employers. The Pensions Regulator will write to you telling you what your staging date is, or you can find out your staging date by entering your PAYE reference into the Pensions Regulator’s Staging Date Calculator.. Making a pension contribution for an employee is a good example of a non-cash benefit being paid in lieu of cash. Pension Schemes) Some pension companies may levy a charge from the company, whilst the administration of the scheme will also have a cost. Learn more. How are Auto Enrolment Pension contributions calculated? Find out how you could partner with us. Your employee’s salary will differ if they have more than one job. Pension contributions made by the employee, employer and the government (this payment is known as tax relief), has risen to a total minimum of 8% of qualifying earnings from April 2019. The Government has previously said it would consider capping pension charges on auto-enrolment schemes in the event that they become to excessive. Be aged between 22 and state pension age. Do I qualify? All employers must provide a workplace pension scheme. Smart Pension helps you with auto enrolment. Choose the type of pension that you have, either an auto-enrolment employer pension, an other (non-auto-enrolment) employer pension, a salary sacrifice scheme, or a personal pension. Learn more. You can also use our Workplace Pension Contribution Calculator to help you get an indication of what your pension contributions will be under automatic enrolment. However, what is important when it comes to automatic enrolment and salary sacrifice is … It's possible to opt out at any other time but your contributions and those of the employer will remain in the pension scheme. Basic State Pension - £129.20 pw will increase to £134.25 pw; Confirmation that the Lower Earnings Limit for Auto-enrolment is rising in line with National Insurance to £6,240 pa. 3) Total Earnings Auto-enrolment is the government scheme that helps you save into a pension. Automatic enrolment will begin on time this October, taking up to 10 million people into pension saving, many for the first time ever, and all employers will be part of it. There are time limits for opting out and getting a return of your contributions. Choosing a Pension Scheme. The minimum contribution rate for workplace pension schemes is currently 8% of qualifying earnings. Pension automatic enrolment contributions calculator. This is the amount of the worker’s pay you’ll use to work out contributions. You need to use a qualifying scheme for auto-enrolment and The Pension Regulator has guidance for choosing the correct scheme. Creative Auto Enrolment Pension is the only leading, end-to-end auto enrolment solution for small employers, startups and Professional Advisers that provides our Auto Enrolment Compliance Guarantee. The biggest change comes in the form of auto-enrolment, which is a programme that will see all employers automatically enrol their employees into pensions. Contributions are based on a percentage of your gross earnings (how much you earn before tax is taken off) Why not use our Pension Contributions Calculator to find out what your contributions would be. On qualifying earnings scheme for auto-enrolment and the pension scheme if you wish to leave the pension scheme you! Category you fit into the way workplace pension schemes traditionally worked put into their pension! 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