Meeting our pension requirements for PAYE workers.

Photo by Sean Pollock on Unsplash

Auto-Enrolment Information

Orbital Umbrella has partnered with Smart Pensions to help meet our legal requirements in delivering an auto enrolment scheme.

Auto enrolment has been designed to encourage a retirement savings culture in the UK. This new legislation requires all employers to automatically enrol some or all members of their workforce (depending on age and salary level) into a pension scheme that meets certain minimum standards. Some workers will also have the right to ask their employer to enrol them into an auto enrolment pension scheme.

What is a "qualifying employee"?

A qualifying employee is:

  • Any employee of any nationality who ordinarily works in the UK;
  • Who is 22 and over but under the state pension age;
  • and who earns more than £10,000 a year.

What's in it for the employee?

  • Initially, employees must contribute 1% of their pre-tax pay to the pension. Their employer will then top that up by 1.%. Total pension contribution: 2.0% of the employee's gross salary.
  • So, initially for every pound of net pay that an employee puts into their pension, another 1 pound 50 will go in on top, for free, from their employer and from the government (in the form of a tax credit).

What happens next?

  • Smart Pensions will be sending out initial information and joiner packs (where applicable) to individuals via post or email.
  • All new starters will be individually deferred for 3 months, so if you are still working with us after 3 months you will be automatically enrolled providing you meet the qualifying criteria. Employers must not encourage or force employees to opt out. However, employees may choose to opt out on their own.
  • Workers will be able to manage their account online via the Smart Pensions portal. For further information check out: www.autoenrolment.co.uk/employee-information

  03336 662 626

  www.autoenrolment.co.uk

  employee@smartpensions.co.uk

© 2018 Orbital Payroll Group Ltd. All Rights Reserved    |    Privacy Policy    |    Web by FCD

© 2018 Orbital Payroll Group Ltd. All Rights Reserved

Privacy Policy    |    Web by FCD

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