HMRC have released figures that reveal self-employed pension savings have hit record lows across 2019/2020. Since 2012 to 2013, non-eligible employee participation has increased to 34%. However, this has declined for the self-employed to 16%.In 2019/20 self-employed people paid around £830m into their personal pensions. Though, this figure is down from the £1.15bn paid in the previous year.It is thought that due to the COVID-19 pandemic, this figure would have reduced even further … [Read more...]
Important information for all our Contractors
This is for information only, you do not need to do anything at the moment.It's been 3 years since our Pension Auto Enrolment and now we must go through our first re-enrolment. Automatic re-enrolment is a statutory process that all companies have to go through.This means that from 31st October 2016, any workers that have opted out 12 or more months ago and are still active, will be automatically re-enroled.All you need to do if you wish to opt out again, is to follow the original … [Read more...]
Pension Re-enrolment is here!
We can’t believe that it’s been 3 years since we first completed Auto Enrolment. This means those who have opted out previously and more than 12 months ago, will be re-enrolled if eligible. Here’s what the Pensions Regulator says about re-enrolment:Every three years you must put certain staff back into a pension scheme. This is called ‘re-enrolment’.Your re-enrolment duties must be carried out approximately three years after your automatic enrolment staging date.Your … [Read more...]