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Pensions Regulator: April 1st Automatic Enrolment

Discussion in 'Money, Accounts & Finance' started by BGD, Feb 29, 2016.

  1. BGD

    BGD

    Joined:
    Jul 22, 2009
    Messages:
    81
    Hi all

    This is getting closer.

    I have a limited company, with one director and one perm employee (both me).

    It appears that I *have* (?) to set up a pension for myself as an employee. Is this true?

    Could someone please advise, if so, what's the simplest way to find out the basic steps and the lowest cost way of doing so, if I do?

    Have you already done so? How did you find it?

    Thanks in advance.
  2. Dean

    Dean

    Joined:
    May 22, 2008
    Messages:
    9,434
    I don't think you *have* to set one up for yourself as director? Even if you do, you can choose to personally opt out.

    You do have to sign up to a scheme even if none of your staff currently qualify. I believe they qualify if they earn more than £10k a year. Mine don't qualify but I still have to sign up.

    I've been looking at available options recently and the one I think I will be going with is NEST - www.nestpensions.org.uk

    You should have received your personal on-boarding date which may not be 1st April. For example mine is 1st July 2017.
    BGD likes this.
  3. BGD

    BGD

    Joined:
    Jul 22, 2009
    Messages:
    81
    OK Dean, I'll check that (and opt-out if possible), thanks.

    1st April: decide who to put in the pension scheme
    13th May: tell the pension scheme who/start paying into
    31st August: Complete a declaration of compliance for the regulator
  4. Gary

    Gary

    Joined:
    Aug 22, 2009
    Messages:
    16,352
    BGD likes this.
  5. BGD

    BGD

    Joined:
    Jul 22, 2009
    Messages:
    81
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