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Auto-enrolment and/or salary sacrifice
My employer has a staging date of October 2016 and I want to make the most out of the options available to me. I am a basic rate tax payer. As I understand it, from October I will be paying in 0.8% of my salary, the government pays 0.2% and my employer 1%. So a total of 2%. I guess the 0.2% from the government is the tax…
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Seasonal work
Hi, can anyone help me please? I have just started a summer job, starting April and finishing September and I work three days a week. I shall earn at least £5000 (not including extra work) for this period. Am I entitled to be enrolled on a workplace pension? There are only a handful of staff where I work..
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Auto-enrolment - postponement of stating dates/TUPE
Thanks for anyone able to assist with this. We were advised earlier this year that we would be auto-enrolled in February and the Staging Date was to be 01/02/2016. In February, we were told that this would be postponed (I can't recall being given any reason for this at the time but it became apparent why later) and in…
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Very Small Business and AE
The AE website is shoite for information, but I registered as I cant tell if I need to do AE or not. I run a Ltd Co, where I am the only director, and my wife is employed part time for admin and support at £4k a year. Is my Co caught by AE?
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auto enrolment - non eligible employees
I run a small business and have 2 part time employees, one over retirement age. I do not operate a pension scheme at all. Neither employee qualifies for auto enrolment and I am just about to write to them but I understand that either of them could ask to join a pension scheme and I would have to set one up for them…
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With profits bonds
Hi, my parents are well into their retirement and have a reasonably large amount of money invested in some with profits bond policies with L&G and Sterling. They've had them for around 10 years and the performance has not been great. In fact the Sterling ones have gone down in value. To add to the problems they have been…
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Fraud integrity centre ESA
Hi I've received a letter from BIC integrity fraud centre wanting details of my late husbands annuity pension,I was on work related sickness benefit till my husband died then was put onto widows pension for a yr with a 3 bedroom house and I couldn't meet the shortfall on the rent and council tax ,they told me they couldn't…
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Increase pension contributions or overpay mortgage
Hi just after people's thoughts on weather it's best to increase my dc pension contributions by £70 a month or overpay my mortgage by £50 a month? Read somewhere that because mortgage interest rates are low at the moment (mine being 2.24% with just over 10 years to run) it would be more benifical to stick it on my pension.…
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Letter from Aviva
Many moons ago I used to be a self-employed IT contractor, being the sole director of a Ltd Company. During this time I set up an Executive Pension Scheme with Commercial Union (later Norwich Union and then Aviva) and my company paid in contributions every month. In 2004 I closed down the Ltd Company as I had gone back…
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Nonsensical charges on small scheme
I've "lost" another thread I posted. Can't seem to find it, however it's obviously in the wrong forum. The only memeber of staff we have for auto enrolment is only just over the £11000 per annum salary (part time worker). We want to set her up in a scheme but looking at the ones I found so far, the admin and setup fees…
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Opting Out
I am currently enrolled in my employer's pension scheme and also have an additional personal pension with a different pension provider. I contribute 5% to my employer's pension scheme, as does my employer. I would much rather everything be paid into my personal pension as I have more flexibility and lower fees, but this is…
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Auto-enrolled now changed jobs
Hi All, Just looking for some advise more than anything... I opted in for the Auto-enrolled pension last year in my old job, I have now moved jobs, will this just move over with me, and my new employer picksup thier side of the contribution, or do I need to action something? I've not received anything regarding this from…
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auto-enroement & salary sacrifice
I am employed in a small firm with 5 eligible employees for auto-enrolment with a staging date of January 2017. When I joined the company some ten years ago I wanted to make contributions into pension and it was agreed with my employer this would be done through salary sacrifice with the deduction from my salary being paid…
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Existing Pension Fund?
I work for a small company just coming up to the stage where auto-enrolment needs sorting out. When I joined the company around 3 years ago, I had a reasonably large pension fund that was from my previous job. My new employer agreed to pay pension contributions into the existing fund (which effectively became a private…
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NEST Opt Out
At the end of December, I received notification that my employer has signed me up for NEST. I already have a pension plan and NEST seems a bit conservative so I went to opt out. The web and the telephone system wouldn't do it saying I was ineligable to opt out which is odd as I should be able to up until close to the end…
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Should I transfer my current work pension to the new NEST scheme?
Hi, I'm lucky enough to already have a work based pension which has been running for a good 10 years. The payments my employer contributes is above the minimum required by the new auto enrollment rules. Should I try and transfer this pension, keep running this pension or will it automatically stop and the NEST one start?…
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Pension vs. paying off debt
Hello I am 31 and have just started a new job with a much larger salary of £57,500. My employers have auto enrolled me onto the pension scheme (I've never had a pension scheme before) where I will pay 8.5% pension contributions so that takes about £200 off me each month (it's actually about £400 they take but tax relief or…
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I don't understand any of it..
Hello all. From this month I am putting into a private pension, as part of the auto enrollment scheme. However I am mega confused as to what is pensionable pay, and the tax relief element and just how much I will pay...I have lost the original letter that I got from my employer (M&S) but I got a letter from legal and…
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Cashing out
I wrote a post asking about the closure of a year old pension but upon further reading this topic seems to be one that annoys regular forum contributors, being new I dont know how to delete my post, so apologies and I shall call up my pension provider tomorrow.
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Maximum amount that can be paid into auto enrolment pension
I cannot find this information on any site, but is there a maximum amount that an employer and staff member can pay into an auto enrolment scheme? It would be financially beneficial for me to pay in a large percentage from my own small company. I will also be over the state retirement age, but I assume I can still pay in…