To help people save more for their retirement, all employers are now required by law to provide a workplace pension scheme for certain staff and pay money into it. We must enrol any of our staff who meet all of the following criteria:
You earn over £192 per week (or £833 per month) you are aged 22 or over and you are under state pension age.
Abbeywood automatic enrolment started 1st January 2016
If you don’t meet the criteria, you won’t become a member of the scheme automatically but if in the future you earn more than £192 per week (or £833 per month), or turn 22, we will enrol you into the scheme and let you know.
If you don’t meet the criteria you can also ask to join the scheme now or in the future.
To join the scheme, now or in the future, tell us in writing by sending a letter which has to be signed by you. Or if you send us an email, please include the phrase, ‘I confirm I personally submitted this notice to join a workplace pension scheme.’
When you receive your information pack from The Peoples Pension you can create an on-line account with them, click on the link below. Note - You will need an email address.Welcome to your Online Account
1st January 2016 until 30th September 2017 = 1% of your wage
1st October 2017 until 30th September 2018= 3% of your wage
1st October 2018 onwards = 5% of your wage
If you don’t want to be a member of this Pension, you don’t have to be. When you receive your information pack you can choose to opt out.
This can only be done by you by contacting The Peoples Pension.
opt-out period’ – normally one calendar month from the date on your ‘new joiner’ information.
For more information on opting out click on linkMore info on opting out
Government website is www.thepensionsregulator.gov.uk or Click on this link