New Pension Rules.

xylophone

are you seriously telling me that at that age you were bothered about your pension.

Whether worried or not is not the point at issue.

These days it's not surprising zero hour contracts are popular with employers.

I wonder if those same employers are saving into their own pensions (from the profits generated by the employees' labours as well as their own)?

It's only those inferior beings whom they deign to employ who are not entitled to expect a contribution towards their retirement plans?

spadoosh

lavvy wrote: »

What a ridiculous reply. After all these days teenagers are lucky to get a job at minimum wage, the ages range from 18 - 22, are you seriously telling me that at that age you were bothered about your pension. Any way it was the OP who had a sandwich bar, not my friend. These days it's not surprising zero hour contracts are popular with employers.

I think you miss the whole concept of the workplace pension. Its exactly because 18-22 year olds (not specifically that age more that people in general) dont think about their pension that this has been enforced.

I was those 18-22 year olds and said no. Im now 30 and based on the 3% / 4% contribution from 2019 ill be looking at a pension of ~£2500 a year. Had i contributed from 20 (i added 10 years (from 65 to 75) on the calculator) it would be close to doubling my annual pension.

I dont know what your inferring about 'these days' but every single person i know who is 18-22 who has a job earns NMW. Its a legal requirement. As is the workplace pension. If your friend suggests to his staff that they dont pay in and or offers incentives otherwise theres a few things hes doing. Firstly breaking the law, your not allowed to do that. Anyone found to do that will face the consequences. The second thing he is doing is putting people retirements at risk. That, to me at least, is the biggest douche move.

If you cant make profit playing to the rules, you dont have a viable business.

mgdavid

lavvy wrote: »

In that case I would probably just tell the staff that you are making them all part time, that way it would prevent you having to pay into the pension. It may be harsh but if they are offered the choice of no job or part time work it's a no brainer. Maybe they could claim working tax credits. There has to be a way round it.

What a ridiculous reply. It's already been shown that the cost to the business is minimal.

greenglide

If the business cannot afford to pay the 1% employer's contributions what will they do when the minimum wage is increased as they obviously cannot continue?

It may be harsh and difficult but the minimum that people are due is the minimum wage and the mandatory pension contribution.

lavvy

xylophone wrote: »

Whether worried or not is not the point at issue.



I wonder if those same employers are saving into their own pensions (from the profits generated by the employees' labours as well as their own)?

It's only those inferior beings whom they deign to employ who are not entitled to expect a contribution towards their retirement plans?

I delighted to hear you agree with me!

Apart from the issue in question we are not talking about me, I was just adding the opinion of an acquaintance and what they were thinking of doing.
Regardless to whether it's the law or not doesn't mean that it doesn't happen.
Desperate people do desperate things. Quite frankly I couldn't care less as it doesn't affect me in the least.

westv

Isn't this similar to those employers who cut their employees hours in order to "comply" with the new living wage?

going.for.gold

I have a cleaner that comes in three times a week, and her husband is my gardener do I have to offer them a pension option? I sincerely hope not, I didn't know anything about it. :j:j

Number75

You're not their employer. They are self employed and your buy their services. So - no.

xylophone

I delighted to hear you agree with me!

And how do you make that out?