Workplace Pension

pollyanna24

When I queried this with my boss (a sole practitioner in a law firm) a couple of years ago, he said that it was not something that he had to do.. yet.

However, he said that if I took out a private pension, he would contribute to it.

Now that the auto enrollment is happening (I don't know of timescales and if my boss would have to do it yet as he only has one employee), is him contributing to my private pension enough or do I have to be involved in a workplace pension?

xylophone

http://www.thepensionsregulator.gov.uk/docs/the-essential-guide-for-automatic-enrolment.pdf

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

may help.

dunstonh

Now that the auto enrollment is happening (I don't know of timescales and if my boss would have to do it yet as he only has one employee), is him contributing to my private pension enough or do I have to be involved in a workplace pension?

It is unlikely that an individual scheme with employer contributions would meet the auto-enrolment criteria (yet to see one that has).

So, the employer will have to have one.

greenglide

Of course you can opt out if you wish if the employer is happy to continue into your plan. Obviously you would want at least the 1% minimum paid into it by the employer.

Are your current contributions by salary sacrifice so only the employer actually pays, your salary is reduced by the amount of the employees contributions and you save the employees NI (and the employer can save employers NI as well - or pay it to you).