Due to administrative errors carried out over a number of years, some scheme members savings have not been collected from employers and therefore not been invested. As a result the TPR has fined the trustee (NOW: Pension Trustee Limited) a total of £70,000 for its failings. (more…)
If your pension scheme is being used for automatic enrolment, as from the 6 April 2018, all employers by law will be required to increase the minimum contribution that they currently pay into their employee’s pension scheme to at least 2% and employees will have to increase their contributions to 3% to bring the total minimum contribution to 5%. (more…)
Charity group Young Women’s Trust polled 4,010 people aged between 18 and 30, finding the average young worker is paid £3.45 an hour less for doing the same work as older people.
Over the course of the year, younger workers are receiving £6,279 less than their older colleagues. (more…)
Inspection teams have been visiting dozens of businesses in Cardiff, Newport, Caerphilly, the Vale of Glamorgan and Rhondda Cynon Taf to check that qualifying staff are being given the workplace pensions they are entitled to.
The move is part of a nationwide enforcement campaign by The Pensions Regulator (TPR) which began in London in April to ensure employers are meeting their automatic enrolment duties correctly. (more…)
Since 1 October 2017, a new employer has Auto Enrolment duties from the date they first start to employ a worker. If one or more employees are aged between 22 and the state pension age, and earn more than £10,000 per year; £833 per monthly; or £192 per week, they are usually “eligible” employees who must be auto-enrolled in a workplace pension scheme, unless they notify their employer they wish to opt out. (more…)
Will costs increase?
How much work is involved in handing it over?
Will it be time-consuming?
Can I trust another company to handle our confidential and sensitive information?
We can answer all these questions for you, below are key points as to why outsourcing your payroll to us could be massive benefit to your business: (more…)
Over the last five years there has been a seismic shift in attitudes towards retirement saving.
Auto-enrolment means workplace pensions are now regarded by many employees as a normal part of working life. (more…)
Here’s a little refresher…
The NLW increased from £7.20 to £7.50 per hour on 1 April 2017.
Out of 835 businesses surveyed by the Federation of Small Business (FSB), 39% have put up prices to cope with the NLW increase. (more…)
From April 2017 IR35 status in the public sector will no longer be determined by the contractor but instead determined by the client (engager). If the public sector client decides that the contractor company is subject to IR35 they will deduct tax from any payment to the contractor and pay this over to HM Revenue & Customs as if they were employees. (more…)