John
Member
Registered: 30th Jun 03
User status: Offline
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How does this new auto enrol one work? What's the minimum the employer has to put in?
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belton
Member
Registered: 23rd Jul 09
Location: Kent
User status: Offline
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Auto enrollment - from 2013 companies have been legally obliged to place all 'eligible' workers (over 21 earning over 9440) into a workplace pension scheme.
AE started in 2013 with the largest employers (20000+ population or something) putting the schemes in place. Dependent on the size of the companies population will determine their 'staging' date, largest starting 2013 with the finish date, so all companies on board by 2018.
At the moment employer/employee contributions are fixed at 1:1, so you contribute 1% as do they. By 2018 it will be increased to 5:3
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Kyle T
Premium Member
Registered: 11th Sep 04
Location: Selby, North Yorkshire
User status: Offline
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I've been putting off joining the work pension for years now. Keep saying "next payrise I'll do it" but just end up with a car instead 
Auto-enrolled this month so shall ride it out, need to read all my booklets though - no idea what the company is contributing, but I think mine is about 4%.
Lotus Elise 111R
Impreza WRX STi
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Robbo
Member
Registered: 6th Aug 02
Location: London
User status: Offline
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quote:
Originally posted by taylorboosh
Doubt it... Will be reet
yes, it was a sarcy comment referring back to paul's dystopian vision of pensions in the future
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Robbo
Member
Registered: 6th Aug 02
Location: London
User status: Offline
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quote:
Originally posted by belton
Auto enrollment - from 2013 companies have been legally obliged to place all 'eligible' workers (over 21 earning over 9440) into a workplace pension scheme.
AE started in 2013 with the largest employers (20000+ population or something) putting the schemes in place. Dependent on the size of the companies population will determine their 'staging' date, largest starting 2013 with the finish date, so all companies on board by 2018.
At the moment employer/employee contributions are fixed at 1:1, so you contribute 1% as do they. By 2018 it will be increased to 5:3
its about time. be nice if we younger people could get a breka on our NI though givne that we will get sod all state pension :/
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willay
Moderator
Organiser: South East, National Events
Premium Member
Registered: 10th Nov 02
Location: Roydon, Essex
User status: Offline
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Dont have a pension, should I have one?
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Robbo
Member
Registered: 6th Aug 02
Location: London
User status: Offline
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Yes.
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Robbo
Member
Registered: 6th Aug 02
Location: London
User status: Offline
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Assuming you dont have rental properties (which i dont think you do?) or other securities (such as a BluKoo style portfolio) then you will need somehting to pay into that can accumulate and grow without you touching it
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VrsTurbo
Premium Member
Registered: 8th Jun 10
User status: Offline
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Willay will bump off his parents and live in a the barn. no pension needed.
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taylorboosh
Member
Registered: 3rd Apr 07
User status: Offline
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quote:
Originally posted by Robbo
quote:
Originally posted by taylorboosh
Doubt it... Will be reet
yes, it was a sarcy comment referring back to paul's dystopian vision of pensions in the future
I know 
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belton
Member
Registered: 23rd Jul 09
Location: Kent
User status: Offline
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quote:
Originally posted by willay
Dont have a pension, should I have one?
your employer now legally has to put you in one as i explained above, so only a matter of time!
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RichR
Premium Member
Registered: 17th Oct 01
Location: Waterhouses, Staffordshire
User status: Offline
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I have 4 x flats, 2.5acres of land and a barn - my pension plan is to at least double that over the next 10 years; that means that realistically all property will be mortgage free by retirement and I'll effectively bring in a similar amount to my current earnings.
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Russ
Member
Registered: 14th Mar 04
Location: Armchair
User status: Offline
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quote:
Originally posted by belton
quote:
Originally posted by willay
Dont have a pension, should I have one?
your employer now legally has to put you in one as i explained above, so only a matter of time!
even if its his mam
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