Pension Scheme

Auto-enrolment Pension Scheme

Following the introduction in October 2012 of the Pensions Act 2008 and changes to workplace pension schemes, the Company now has a statutory requirement as of February 1st 2013 to automatically enroll its flexible employees into a qualifying pension scheme.

The Company has chosen NEST as its workplace pension scheme provider to meet our employer duties.  You can find out more about NEST and auto enrolment work place pensions at www.nestpensions.org.uk

What is auto-enrolment?

The new pensions regulations require an employer to automatically enroll their ‘eligible’ jobholders into a pension scheme. 

What is a postponement period?

The Company will be applying a postponement period to your automatic enrolment date.  This means that you will not be enrolled until the pay period prior to the three month anniversary of your commencement of employment with us (or to the 1st February 2013 if you were employed by us at that date).

What is an ‘eligible’ jobholder?

We’ll automatically enroll you if on your postponed automatic enrolment date you’re assessed as:

  • Aged at least 22 but under State Pension age
  • Working, or ordinarily work, in the UK
  • Earning more than £9,440 per annum (pro-rata to your weekly earnings in the assessment week)

How much will I have to pay?

The current employee contribution you will make will be 1% of your qualifying earnings.  The Company will also make a 1% contribution.

What if I don’t want to be auto-enrolled – how do I opt out?

You do have the right to opt out of the workplace pension scheme. But you can only do this once you have been enrolled and received your pack from NEST with your unique identification number.  You can then call or email NEST directly and they will inform us that you have opted out.  If you do this within the first month of the commencement of your contributions you will receive back any contributions you have made.  If you do this after that time, any future contributions will cease but there will be no refund of monies already paid.  It is therefore important that you opt out as soon as possible if you wish to do so.   You cannot opt out by informing Pertemps you must contact NEST directly.

How will I know if I’m auto-enrolled?

The Company will commence deductions which will be shown on your e-payslip as a pensions deduction and you will receive your full NEST pack giving you information on the pension fund and full contact details should you wish to opt out.

What if I’m not an ‘eligible’ jobholder?

There are two other categories.

Non-eligible jobholders:

  • Aged  between 16 and 75
  • Working, or ordinarily working in the UK
  • Earning between £5,668 and £9,440 per annum

If you are a non-eligible jobholder you may request to opt in to the workplace pension scheme.

Entitled Workers:

  • Aged between 16 and 75
  • Working, or ordinarily working in the UK
  • Earning less than £5,668 per annum

If you are an entitled worker you have the right to access the workplace pension scheme and make contributions but have no right to the employers’ contribution.

Where can I get more information?

You can get further information on workplace pensions and auto enrolment at

www.nestpensions.org.uk

www.direct.gov.uk/workplacepension

or email  pensions@pertempsng.co.uk