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DB Pension larger lump sum or larger pension
I have just received my pension statement, I will be taking early retirement at 60 at the end of the year. I have been offered a full pension of £17,300 pa, or a reduced pension of £14,800 pa with an additional tax free lump sum of £45,600. the pension is index linked to cpi but capped at 2.5%. taking into account…
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Procedures for auto enrolment
Just a quick question. Our employer has e mailed everyone regarding auto enrolment. They have stated that they will be deducting monies from this months salary. They have given 1 weeks notice. None of us have seen any details regarding the pension scheme. Are they allowed to deduct monies before giving us any infomation…
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NEST or NOW?
I am a small employer with 15 employees. We have a staging date of January 2016, so we need to make a decision. I'm very much out of my comfort zone, but having read threads on this forum I can see there are quite a few clued up people here! Are there any major pro's or con's to either NEST or NOW? I can't even tell you…
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Delete
Posted In sub-forum by mistake. Please ignore.
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Auto enrolment and agency
I was auto enrolled when I worked for Hays. I left in April to travel and then started to work for them again in August. So far no NEST pension has been deducted should I ask about it as the job is temporary may be for three months. Thanks
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Homebase Compensation
Sorry! I meant to post in consumer rights section - not sure why it ended up here. Please can someone delete??
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Administration needs
I am just dipping a toe in the water as the start of planning for AE. Our start date is Jan 2017. Small employer, catering trade, most of our seven employees are on a bit above minimum wage but part time. I have three who could be in the band where automatic enrolment is required. One of these, our key staff member, is…
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Worth it for over 50's?
Have just had my introduction pack from NEST and am wondering, as I just turned 50, if this pension is likely to provide much of a boost to my pension income in the space of 17 years? Am reluctant to opt out and miss out on my employers contributions but at the end of the day they wont really amount to much...
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AE - Fees Question
Hello I'm a micro-employer - 2 staff on £2400pa and myself as a Director on around £1200 a month. I am resigned to AE as there's every chance our staff members and their salaries will increase. My staging date is August 17. Initially, I got a letter from the company that does my payroll suggesting I make them the secondary…
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Sports club and short notice auto enrol
Hi, I have volunteered to help out a local club (with paid employees) and have discovered that their staging date for auto-enrolment is 1st October 2015. Ideally I could do with a bit more time to write to staff and things arranged although could manage at a push. My question is is it worth contacting The Pensions…
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AE Scheme Recommendation
Hello, My small company has a November 2016 staging date. I have around 6 to 7 employees including myself as the sole director. Does anyone have any experience or advice to offer in respect of choosing the pension scheme provider, that is to say is any company consistently out performing / standing out from the others?…
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Delays from Actuarys
Hi, I've been trying for over a year to get a Trivial Commutation estimate for a small pension, but keep getting a reply from the Administrating company that the Actuaries are still considering their policy on this with regard to new legislation. It seems they can just continue to fob me off with this, is there anythingI…
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Opt-In at age 61?
My employer will reach their staging date soon, I'll be 61 & work part time & a non taxpayer (salary too low for tax/ni) but will fit in the 'choose to opt in' category (not opted in automatically). I don't need an additional measly monthly pension TBH, but weighing up whether it will be worth opting in for the few years I…
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Final Salary Options
I have 13 years of a final salary pension plan. I have 3 options on maturity at 65 in a few months. 1) receive 20k per annum, index linked, 50% to spouse on death. 2) receive 15k per month , index linked, 50% to spouse on death plus 90k tax free lump sum 3) take the transfer value of 400k and put it into a SIPP I am in…
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Redundant at 48 - when can I take pension
Hiya. Ive actually got two hypothetical complicated scenarios, so I will do a new thread for the other one to keep things from being even more muddled. Right. say SWIM has worked for a local authority in Leisure Services since early 20s. Five years ago a different local authority took over the management of this one, and a…
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How to compare pensions...please help???
Please could give me some advice. I currently work for the local authority however, my job is being privatised therefore they want to change our contracts from 1st September. I have been told that I won't be worse off financially however, I won't receive the benefit of a local authority pension or discounted childcare I…
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Is it worth opting out?
A friend of mine earns £20000, he is 47 and at present has no pension whatsoever, with the new rules coming in he will have to pay into a pension but he is thinking that it will leave him struggling now and may not benefit him in the longer term when he comes to retire, would he be wise to opt out at his age? He's under…
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Staging date while on maternity leave
Hi workplace pension experts, I hope you can help me out with this. If the staging date for auto-enrolment is while a woman is on maternity leave, how should the employer's contribution be calculated? There is a information out there saying that any employER's pensions combinations should CONTINUE during maternity leave,…
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National Insurance for SAH parents
Does anybody know what the situation is for parents (in my case a mum) who has been at home with children and therefore not paying NI? I stopped working 10 years ago when we moved overseas with husband's job (military), on our return I didn't work as I had a 2 yr old and was also pregnant. We are now overseas again for 3…
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Auto enrolment, pension deducted from salary but not paid to company
My employer has enrolled us into a pension scheme via auto enrolment, and have chosen Standard Life to be the provider. For the past few months they have taken the deductions out of my pay, and they show on the payslip. I have received little infomation from my employer or SL, besides the amounts I/they are paying in and…