Auto enlrolment

Under the Pensions Act 2008, all UK employers are required to include certain employees in the pension scheme and pay contributions for them. This is called ‘Auto Enrolment’. If an employer employs at least one person, they have certain legal obligations.

http://www.thepensionregulator.gov.uk/en/employers

The Pension Regulator sends notification of the date of entry to companies, or you can check it at the link below:

http://www.thepensionregulator.gov.uk/employers/staging-date.aspx

Employees must meet the following criteria to join the scheme:

Have a weekly income of more than GBP 192 (or a monthly income of more than GBP 833)
Be at least 22 years old
Have not yet reached state pension age

The employee can choose not to be a member of the pension scheme, but if they remain a member they will have an individual pension contribution when they retire. The pension remains their own even if they leave the company sometime in the future.

If the employee has a weekly income of more than £113 when they apply to join, then the employer will also contribute to their pension fund by paying money into the scheme. If the employee wishes to join the scheme, they must send a signed letter. If sent electronically, the letter must include the statement:

“I certify that I am personally submitting this application to join an occupational pension scheme.”

The contribution is made up of the following:

Tax year 2022/23: