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Minimum earnings

carlbhoy
carlbhoy Posts: 109 Forumite
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in Auto-enrolment
Could anyone confirm, as I've read on this forum, that if you earn below £10000, you will not be automatically enrolled in the pension scheme, thanks

Comments

  • Paul_Herring
    Paul_Herring Posts: 7,481 Forumite
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    Going by regulartory requirements, yes:

    http://www.thepensionsregulator.gov.uk/automatic-enrolment-earnings-threshold.aspx#s20250

    "Earnings trigger for automatic enrolment" is £10,000… but once you hit it, anything from £5,876 (up to £45,000) is used to calculate the minimum amount.

    But some companies may simplify by including everyone anyway, and take total salary into account.
    Conjugating the verb 'to be":
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  • carlbhoy
    carlbhoy Posts: 109 Forumite
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    I am a limited company, work for myself, my wife is named as a secretary, simply because she is a housewife, my accountant tells me to pay her £680 a month, so what I'm really asking as she will be earning a salary of £8160, will she have to be enrolled?
  • dunstonh
    dunstonh Posts: 116,293 Forumite
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    carlbhoy wrote: »
    I am a limited company, work for myself, my wife is named as a secretary, simply because she is a housewife, my accountant tells me to pay her £680 a month, so what I'm really asking as she will be earning a salary of £8160, will she have to be enrolled?

    If it is just you two then you dont have to worry about auto-enrolment. Only if you have employees do you have to worry about it.

    You can stick with your individual pension and make any company contributions you like to either of you.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • greenglide
    greenglide Posts: 3,301 Forumite
    First Anniversary Combo Breaker Hung up my suit!
    I am a limited company, work for myself
    No , you don't.

    You are a director of a limited company and you are employed by that company

    The company is, I hope, paying employer contributions into pension schemes for both of you.

    You would not, normally, make any employee contributions.
This discussion has been closed.
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