UK – Workplace pension

UK – Workplace pension

UK – Workplace pension

A workplace pension is a way of saving for retirement that’s arranged by the employer. Some of workplace pensions are called ‘occupational’, ‘works’, ‘company’ or ‘work-based’ pensions.

An employer will need to enrol the candidate into a workplace pension scheme, if:

-          They are not already in one, or we’ve not enrolled them into one

-          They are aged between 22 and State Pension

-          Earn more than £10,000 a year

-          Usually work in the UK


Comments

N/A

 


    • Related Articles

    • UK - pension

      UK pension rules - overview NEST’s policy - Employee pays 5% & Employer (XML) contributes additional 3% The calculation is based on the Banded Qualifying Earnings which means that the first £650 of income in the payroll month is not included in the ...
    • Opting Out From Nest Pension - UK

      Opting out from Nest Pension – UK In the UK, it is compulsory to auto-enroll in to our company pension scheme. However, if the candidate has his/her own preferred pension partner, it is imperative that they officially opt out of the scheme. Please ...
    • Scotland Candidate’s Payroll

      Scotland Candidate’s Payroll Tax rates and bands are different. In the payroll input sheet we must prepare a separate line below all UK Staff for any Scotland candidates. The candidates will be included in UK payroll & will have local holidays of ...
    • Denmark – pension fund

      Denmark – pension fund In Denmark, employees can choose a fund but can also sign directly with the pension fund – XML does not need to get involved in the agreement. In the case the employee has chosen his fund and the amounts will be deducted from ...
    • Sweden - Pension

      Most White-Collar employees in Sweden are covered by a CBA. This needs to be confirmed with local Accountants, especially if an new hire is an expat. Under the CBA, there’s a supplemental pension (ITP 1). For those born after 1978 it is a DC plan (DB ...