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“Don’t ignore it, it’s compulsory so
you need to act now”
Find out how this new
compulsory National Employee Savings Trust will effect you, your business and
your employees.
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Update January 2011
Depending on
the number of employees in your business,
between 2012 and 2016, employers will have
to automatically enrol all eligible
employees in a qualifying pension scheme and
make contributions to their plan
What are the key points?
- Enrol employees automatically into a
qualifying workplace pension scheme
- Register with the regulator how they
have fulfilled the enrolment duty
- Allow a genuine opt-out procedure
for jobholders and process any resulting
refund of contributions correctly
- Make a minimum contribution of 3% of
pay to an employee’s pension scheme
A staged process will be used to bring
employers into the new regime as listed
bvelow:
| Number of PAYE
staff |
Staging date |
| 50,000+ |
Q4 2012 |
| 10,000-49,999 |
Q1 2013 |
| 4,000-9,999 |
Q2 2013 |
| 1,250-3,999 |
Q3 2013 |
| 500-1,249 |
Q4 2013 |
| 250-499 |
Q1 2014 |
| 90-249 |
Q2 2014 |
| 50-89 |
Q3 2014 |
| <50 |
Q3 2014 - Q1 2016 |
| New employers |
Q1 2016 - Q3 2016 |
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Ashton Hoyle
Independent Financial Advisers
5 Swan Courtyard, Castle Street, Clitheroe,
Lancashire, United Kingdom, BB7 2DQ
Tel: 01200 853001 Fax: 01200 442051 E-mail:
info@ashtonhoyle.co.uk.
Company No. 06015284 Registered in 2006 VAT No. 895
3119 94
© 2009 - 2010 Ashton Hoyle Independent Financial Advisers
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