Pension Auto Enrolment - Employers guide


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Download our free, practical guide to Pensions Auto Enrolment that has been specially put together by our Pensions Auto Enrolment partners, regulated financial advisors, RSM Tenon Financial Management:

- What is auto enrolment?
- Planning for the costs of auto enrolment
- The cost of non-compliance
- Implementation action plan

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Pension Auto Enrolment - Employers guide

  1. 1. Workplace pensions reformsPreparing for Auto-enrolmentEmployee Benefits
  2. 2. 2 Preparing for Auto-enrolmentWill our business need to comply with theautomatic enrolment requirements and, ifso, when?Yes, the new “employer duties” will apply toall UK employers, irrespective of how few orhow many employees they have. However, theeffective date for compliance is being phasedin between 1st October 2012 and 1st February2018, with the earlier dates applying to largeremployers. A sample of the “staging dates” isgiven below:You can choose to bring forward your stagingdate, but you must inform The PensionsRegulator of your intention to do so and be ableto demonstrate your ability to discharge thenew duties.What is meant by “automatic enrolment”?This means that an employee must be admittedto membership of a “Qualifying Scheme”automatically, without the need to completeany forms or obtain anyone’s permission. Thismust happen no later than three months afterbecoming an “Eligible Jobholder”. Until now, themajority of UK pension schemes have operatedon the basis of employees opting in to a pensionscheme, often after meeting some eligibilitycriteria determined by the employer. In future,the default position will be that employees mustbe included in the pension scheme unless theyopt out.Which of our employees will need to beincluded?The requirement to be automatically enrolledinto a Qualifying Scheme will apply to all“Eligible Jobholders” in the UK, aged between 22and State Pension Age, providing that they earnabove a minimum earnings trigger, expected tobe set in line with the income tax threshold eachyear. Those outside these age limits or on lowerearnings will be able to opt in.If an employee opts out, is that the end ofour duties as an employer to him/her?No, where an employee opts out of theemployer’s chosen pension scheme, he/she mayopt back in at any time and the employer mustthen pay the appropriate level of contributions.Furthermore, there is a duty on employers toautomatically re-enrol any employees thathave opted out previously, at each three yearanniversary of the original staging date (theemployee can opt out again each time).What level of contributions must be paid?Once the full provisions are in place, thecombined employer and employee contributionsmust be equivalent to at least 8% of theemployee’s “Qualifying Earnings”. The employer’scontribution, within the 8% total, must be atleast 3% of Qualifying Earnings and the employeemakes up the difference (with tax relief included).For 2013/2014, qualifying earnings will be anemployee’s earnings between £5,668 and£41,450. These figures are expected to bereviewed annually.Between October 2012 and September 2017, theminimum required contribution rates will be just1% each for the employer and employee. Then,from October 2017 the employer must pay atleast 2% included in a total of 5%, before thefull contributions take effect in October 2018.Employers who use a Defined Benefit (FinalSalary) scheme to meet the new requirementscan defer their automatic enrolment date untilthe end of the staging period (October 2017),although employees can opt in before then.If the scheme is closed before October 2017,contributions must be backdated to the originalstaging date.Can we offer our employees analternative cash sum or other benefitinstead?No. You must make arrangements for thepayment of pension contributions at theprescribed rates and must not offer anyinducement or incentive which may be seen asencouraging employees to opt out. Employersoperating flexible benefit schemes may needto pay particular attention to their existingarrangements, to ensure that the minimumpension requirements are met.I’ve heard of NEST in connection with thenew pension regime, but what is NEST andwill this be useful to our business?NEST is the National Employment Savings Trust,a centralised, defined contribution occupationalpension scheme, which may be used byemployers to meet their new duties in relationNumber of employees Staging date10,000 - 19,999 1 March 20136,000 - 9,999 1 April 20134,000 - 5,999 May/June 20133,000 - 3,999 1 July 20131,250 - 2,999 Aug/Sept 2013800 - 1,249 1 October 2013500 - 799 1 November 2013350 - 499 1 January 2014250 - 349 1 February 201450 - 249 1 April 2014 - 1 April 2015Less than 50 1 June 2015 - 1 April 2017New employees Up to Feb 2018You will have heard about Workplace Pensions Reform and the requirement to automatically enrolemployees into a workplace pension scheme. From 1 October 2012, this became a reality for the UK’s largestemployers. Below, we provide a brief update on the key features that will soon be part of the daily lives ofanyone involved in the administration of pension schemes for employees.
  3. 3. Connect to 3to some or all of their employees. Although it isavailable to all companies, it is primarily aimedat low to moderate earners and their employers.In the build up to the automatic enrolment,several new pensions schemes have beenlaunched in direct competition to NEST.Is NEST just like any other definedcontribution company pension scheme?In many ways, yes, although it will have a limiton contributions that can be paid and, at leastfor the first five years of its operation, it is notexpected to allow transfers of funds in or out.There are also some differences in relationto benefit options for those who leave after ashort period of membership and, in the eventof a member’s death before retirement, thebenefits will not be exempt from Inheritance Tax(although this is not expected to be a concernfor the target membership).Will there be an upper limit on thecontributions an employer must pay?Yes, there will be a maximum contributionan employer must pay on behalf of any oneemployee, which will be determined by theupper limit on Qualifying Earnings. That said,an employer can pay significantly highercontributions if it wishes to do so, and manysenior employees and directors will alreadybe enjoying significant, tax-efficient pensionrewards.Note that there will be a maximum contributionthat can be paid to NEST by and on behalf ofeach employee. For the 2013/14 tax year this is£4,400 p.a.
  4. 4. 4 Preparing for Auto-enrolmentCan we make use of our existing companypension scheme?Yes, an existing scheme can be used forautomatic enrolment, providing it meets certainstandards. A combination of two or moredifferent schemes, including NEST, may be usedto meet the requirements.Broadly, a Defined Benefit (Final Salary) schemewill be qualifying if it is made available to allEligible Jobholders and if it is either contractedout of the State Second Pension (S2P, formerlySERPS) or offers a pension accrual rate ofat least 1/120th for each year of PensionableService.A Defined Contribution (Money Purchase)scheme must meet the minimum contributionrequirements as explained above i.e. a minimumtotal contribution of 8% of “Qualifying Earnings”with at least 3% being paid by the employer.What if we do not currently have apension scheme for all employees?In the circumstances where a suitable pensionscheme is not already in place, options willinclude joining NEST; changing the eligibilityterms of any existing scheme or setting up anew scheme for those employees who wouldotherwise be excluded.What happens if we do nothing?The Pensions Regulator (TPR) will be responsiblefor ensuring that employers meet theirobligations in relation to Workplace PensionsReform. Although TPR’s approach will be toeducate and encourage compliance, persistentoffenders could face substantial fines or evenimprisonment.Apart from paying the contributions, isthere anything else we need to do?The Pensions Act 2008 places certain duties onemployers in respect of communications andrecord keeping. A formal statement must beissued to each Eligible Jobholder on or beforejoining, including, amongst other things, fulldetails of the proposed scheme; the effectivedate of joining and informing them of their rightto opt out. The employer must also maintainrecords of any opt-outs and submit an annualreturn to The Pensions Regulator.Where can we get advice on exactly howall this affects our business?There is generic information on the websitesof The Pensions Regulator, the Department forWork and Pensions and NEST Corporation, butmany employers will need detailed advice onwhat the new “employer duties” mean to theirbusiness and, perhaps more importantly, how toensure that they meet these obligations in themost appropriate and cost effective way.Employers will have different dutiesdepending on the type of worker. Employerswill need to identify each type of worker andperform the relevant duties for each type.
  5. 5. Connect to 5Guidance notesSince October 2012, any UK employerwho employs at least one person will belegally obliged to:n Set up and register a pension schemesuitable for automatic enrolmentn Automatically enrol certain workers (knownas eligible jobholders) into that pensionschemen Arrange membership of a pension schemefor certain other workersn Make contributions for eligible jobholdersand certain other workersn Manage the automatic enrolment, joiningand opt out processesn Provide specific information to workers,pension scheme providers and The PensionsRegulator (TPR)n Keep records of how they have fulfilled andcontinue to fulfil their duties1. Assess your workforce - the different types of workerEmployers will have different duties dependingon the type of worker. Employers will need toidentify each type of worker and perform therelevant duties for each type.Workers are defined as anyone who works undera contract of employment or who works for orperforms services personally for another partyto the contract. Exclusions are the self-employed,the armed forces and directors of companieswhere there is no contract of employment and/orthere are no other workers.Earnings Age16 - 21 22 - state pension age State pension age - 74£5668 or less Entitled workerOver £5668up to £9440Non-eligible jobholderAbove £9440 Non-eligiblejobholderEligible jobholder Non-eligible jobholderThe following notes provide a summary of the employer duties under the legislation. These have beensplit into two sections. Section 1 covers the first steps to preparing for the new employer duties. Thesecond section covers the implementation of the legislation in your workplace.Section 1: PreparationThe first steps to preparing for the new employer duties:n Assessing your workforcen Know your staging date – when to actn PostponementThe different types of worker:
  6. 6. 6 Preparing for Auto-enrolment
  7. 7. Connect to 72. Know your staging date –when to act?The employer duties will be introduced in stagesfrom October 2012 and also larger employers willhave their duties imposed first, smaller employerslast. TPR will generally determine the size of theemployer based on the Pay as You Earn (PAYE)scheme information available to them on 1 April2012. Any fluctuation in the number of peoplein the PAYE scheme after that date will notchange the staging date, although if employersmerge after 1 April 2012 the staging date will bedetermined by the largest PAYE scheme of themerged employers.It is possible to bring forward a staging date toalign it with other key dates in an operationalcalendar but once a change has been notifiedto the Pensions Regulator this will be officiallyrecognised as the date from which an Employermust comply with the new duties. Note that it isnot possible to delay the staging date.3. PostponementEmployers may postpone the assessment ofworker type for up to three months. There are fourpossible types of notice that an Employer couldissue to advise workers of the postponement ofthe auto enrolment process.n General notice A – contains the informationthat must be provided to all the differentcategories of worker. General notice A isissued to any worker irrespective of workercategory and whether or not they are amember of a qualifying scheme with thatemployern General notice B – the same as generalnotice A but excluding the informationfor jobholders who are active members ofa qualifying scheme with that employer.General notice B is only issued to a workeror workers who are not active members of aqualifying scheme with that employerEligible jobholder Non eligible jobholder Entitled workern Automatically enroln Make ongoing employer contributions to the schemen Process any opt-out noticen Automatically re-enrol approximately everythree yearsn Keep records of the automaticenrolment processn If using postponement, providea notification to the eligablejobholderProvide information about the right to opt-in, where theemployer is:a. not using postponement, orb. using postponement but using a tailoredpostponement notice for a jobholderIf decides to opt in:n Arrange pensionscheme membershipn Make ongoingemployer contributions to theschemen Process any opt-outnoticen Keep records of theenrolment processIf decides to join:n Keep records of thejoining processn Arrange collection andpayment of employee’s contributionsn The employer is notrequired to contribute but maydo soCategories of workers and what the employer must do for each: n Tailored notice for a jobholder – containsinformation specific to a jobholder who isnot an active member of a qualifying schemewith that employern Tailored notice for an entitled worker –contains information specific to an entitledworker who is not an active member of aqualifying scheme with that employer.The action that an employer must take thereforediffers depending on the type of notice theemployer chooses to use. For example, some willinvolve the employer assessing their workers whoare already active members of a qualifying schemethat they provide and issuing information.There are a number of decisions for an employerto make before using postponement. The first ofthese is to decide from which of the dates theywish to apply postponement, these are:a) Their staging date, in respect of any workersemployed on their staging dateb) The first day of employment, in respect ofany worker starting employment after theemployer’s staging datec) The date a worker employed by them meetsthe criteria to be an eligible jobholder afterthe employer’s staging dateThe deadline for issuing the postponement noticeis one month following the day after the date fromwhich they wish to use postponement. If the noticeis not issued, postponement cannot be applied.
  8. 8. 8 Preparing for Auto-enrolmentChoosing and using a qualifying pensionscheme:n Minimum requirementsn Self certificationn Practical considerations4. Pension Schemes under the newemployer dutiesEmployers who already provide a pension scheme(or schemes) for some or all of their workers, willneed to decide whether and how they want touse this pension scheme to meet their duties forexisting members, as well as how they will fulfiltheir new automatic enrolment responsibilities.To make this decision, an employer will need tounderstand both the qualifying scheme criteriaand the automatic enrolment scheme criteria andsatisfy themselves that their pension schememeets, or can be amended to meet, these criteria.An employer without existing pension provision,who is putting a pension scheme in place forthe first time to fulfil their enrolment duties, willneed to put an automatic enrolment scheme ora qualifying scheme in place with effect from thedate the duties first apply.There are three tiers of requirements that apension scheme must meet in order to be anautomatic enrolment scheme.n Automatic enrolment criterian Qualifying criterian Minimum requirementsAutomatic enrolment criteriaTo be an automatic enrolment scheme, a schememust meet the qualifying criteria and it must notcontain any provisions that:Prevent the employer from making the requiredarrangements to automatically enrol, opt in orre-enrol a jobholdern Require the jobholder to express a choice inrelation to any mattern Require the jobholder to provide anyinformation in order to remain an activemember of the pension scheme, for exampleto choose an investment fundQualifying criteriaA qualifying scheme may be a UK scheme (onewith its main administration in the UK) or a non-UKscheme (with its main administration outside the UK).For a UK pension scheme to be qualifying inrelation to a jobholder, it must be:n An occupational or personal pension schemen Tax registered, andn Satisfy certain minimum requirementsMinimum requirementsDefined contribution (DC) occupational andpersonal pension schemes (including Stakeholderschemes).The minimum requirements for these schemes arebased on the contribution rate. By October 2018,this will require a total minimum contribution ofat least 8% of the jobholder’s qualifying earningsin the relevant pay reference period, including aminimum employer’s contribution of at least 3%.
  9. 9. Connect to 9Salary Wages BonusesOvertime Commission Statutory sick payStatutory maternity pay Ordinary paternity pay Additional statutorypaternity payPeriod Employer MinimumcontributionTotal minimum contributionStaging date to 30 September20171% 2%1 October 2017 to 30September 20182% 5%1 October 2018 onwards 3% 8%‘Qualifying earnings’ is a reference to earnings of between £5,668 and £41,450made up of:These contributions are due to be phased in and the table below details theminimum requirements:Defined Benefit (DB) pension schemesMost DB pension schemes will satisfy the minimumrequirement if the employer has been issuedwith a contracting-out certificate by the NationalInsurance Services to the Pensions Industry(NISPI), part of HMRC (Her Majesty’s Revenue andCustoms). Otherwise, the minimum accrual rate is1/120th of average qualifying earnings in the threetax years before the end of pensionable service.Hybrid pension schemesA hybrid pension scheme is a scheme which haselements of both DB and DC. Depending on thetype of pension scheme, it will have to meet thesame minimum requirements as for DB pensionschemes or a modified version,or the same minimum requirements as a DCpension scheme or a modified version, includingthe option to use the certification process (seeoverleaf), or a combination of the above.
  10. 10. 10 Preparing for Auto-enrolmentCertificationExisting DC pension schemes, whetheroccupational or personal pension schemes,will base contributions on percentage rates ofpensionable pay. The definition of pensionablepay in the scheme rules is likely to be different toqualifying earnings.In recognition of this, employers with schemes ofthis type are able to self-certify that their schememeets the minimum qualifying criteria if thescheme requires contributions in accordance withone of the following tiers:n Tier 1 - A total minimum contribution of atleast 9% of pensionable pay (at least 4% ofwhich must be the employer’s contribution)n Tier 2 - A total minimum contribution ofat least 8% of pensionable pay (at least3% of which must be the employer’scontribution), provided that pensionable payconstitutes at least 85% of earnings (theratio of pensionable pay to earnings can becalculated as an average at scheme level)n Tier 3 - A total minimum contribution of atleast 7% of all earnings (at least 3% of whichmust be the employer’s contribution)For tiers one and two, pensionable pay must be atleast equivalent to basic pay.5. Automatic enrolment processHaving identified an automatic enrolment duty inrespect of an eligible jobholder, the process forautomatically enrolling eligible jobholders into anautomatic enrolment scheme consists of a numberof steps set out in law.The law also sets out the time limit for completingautomatic enrolment. Before the end of what isknown as the ‘joining window’ (the one-monthperiod from the eligible jobholder’s automaticenrolment date), the employer must:n Give information to the pension schemeabout the eligible jobholder Give enrolment information to the eligiblejobholdern Make arrangements to achieve activemembership for the eligible jobholder,effective from their automatic enrolmentdaten The employer is also required to keep certainrecords of this process.The information must be provided in writing. Thiscan include information sent by email, but doesnot include merely signposting to an internetor intranet site or displaying a poster in theworkplace.Someone acting on the employer’s behalf, suchas an independent financial adviser or benefitconsultant can send the information, but itremains the employer’s responsibility to make sureit is provided, on time, and is correct and complete.Once automatic enrolment has been completed, anemployer will have ongoing responsibilities either:Period Employer Minimum Employee Minimum Total MinimumT1 T2 T3 T1 T2 T3 T1 T2 T3Staging date to30 September 20172% 1% 1% 1% 1% 1% 3% 2% 2%1 October 2017 to30 September 20183% 2% 2% 3% 3% 3% 6% 5% 5%1 October 2018onwards4% 3% 3% 5% 5% 4% 9% 8% 7%These contributions are also due to be phased in and the table below details theminimum requirements:n With the pension scheme, as the jobholderremains a member of the scheme, such aspaying contributionsn To manage the opt-out process, if thejobholder chooses to opt out of the pensionschemen To keep recordsThe employer will need to calculate and pay theirown contributions as well as calculating, deductingand paying the jobholder’s contributions to theautomatic enrolment scheme.
  11. 11. Connect to 11“The employer will need to calculate and pay their owncontributions as well as calculating, deducting and paying thejobholder’s contributions to theautomatic enrolment scheme.”
  12. 12. 12 Preparing for Auto-enrolmentSection 2: ImplementationThe second stage in this process will beimplementing your employer duties:n Opting in, joining and contractual enrolmentn Opting outn Safeguarding individualsn Record keeping duties6. Opting in, joining and contractualenrolmentThere are three employer duties that coverestablishing active membership of a pensionscheme (‘the enrolment duties’):n Automatic enrolment: The employer mustmake arrangements by which an eligiblejobholder becomes an active member of anautomatic enrolment scheme or qualifyingscheme with effect from the automaticenrolment daten Opting in: A jobholder can require theemployer to arrange for them to become anactive member of an automatic enrolmentscheme, with effect from the enrolmentdate. They do this by giving the employer an‘opt-in notice’n Joining: An entitled worker can require theemployer to arrange for them to become anactive member of a pension scheme. Theydo this by giving the employer a ‘joiningnotice’Opting in / JoiningIf a jobholder chooses to exercise their right toopt in, they do so by giving the employer an ‘opt-in notice’. Upon receipt, the employer is requiredto make arrangements for the jobholder tobecome an active member of an automaticenrolment scheme or qualifying schemefrom the enrolment date. The employer mustfollow the same process as for the automaticenrolment of eligible jobholders to enrol thejobholder.If an entitled worker chooses to exercise theirright to join, they do so by giving the employera ‘joining notice’. Upon receipt, the employer isrequired to make arrangements for that workerto become an active member of a pensionscheme. The scheme the employer uses for thesepurposes does not have to be an automaticenrolment scheme, or even a qualifying scheme.Since an employer may receive an opt-in orjoining notice many months or even years afterissuing the information to the worker about theirappropriate right, a key task for the employer onreceiving the notice is to assess the category ofthe worker submitting it.This is to identify whether the worker is anon-eligible jobholder with a right to opt in toan automatic enrolment scheme, or an entitledworker with a right to join a pension scheme, atthe time the worker gives the notice.This is important because it determines whichprocess the employer must follow in arrangingfor active membership, and may determine thechoice of pension scheme the employer uses.For an employer who has chosen to use acontractual agreement (for example, thecontract of employment) to enrol their workersinto a pension scheme, it is important tounderstand the interaction with the employerduties and the action they may still need totake. As a minimum, they will still be required toprovide some information to their workers underthe new duties and they will still be required toregister with The Pensions Regulator to tell themhow they have complied with their duties.7. Opting outIt is compulsory for an employer toautomatically enrol their eligible jobholdersinto an automatic enrolment scheme. It is alsocompulsory for an employer to arrange activemembership of an automatic enrolment schemeif a jobholder opts in (or another scheme if anentitled worker wishes to join).However, ongoing membership of the schemeis not compulsory for the jobholder. Where ajobholder has been automatically enrolled, orenrolled as a result of an opt-in request, theycan choose to ‘opt out’ of a pension scheme.Eligible jobholders may choose to opt out afterthey have been automatically enrolled and maythen opt back in at any time.Non-eligible jobholders who have opted in maychoose to opt out, after they have been enrolled.Workers who have already been enrolled undercontractual enrolment (eg under their contractof employment) and entitled workers who haveasked to join a scheme do not have the right tochoose to opt out in order to receive a refund.Instead, if they want to leave the scheme, theymust cease membership in accordance with thescheme rules.A jobholder who becomes an active member of apension scheme under the automatic enrolmentprovisions has a period of time during whichthey can opt out. This also applies to thosewho become active members under the opt-inprovisions. This is known as the ‘opt-out period’.For occupational pension schemes, the opt-outperiod starts from the later of the date thejobholder becomes an active member with effectfrom the automatic enrolment date (ie the datethat the administrative steps for achieving activemembership are completed), or is provided withwritten enrolment information.For personal pension schemes (includingstakeholders), the opt-out period starts from thelater of when the jobholder is sent the terms andconditions of the agreement to become an activemember or is provided with written enrolmentinformation.To deal quickly and efficiently with opt outs, theemployer should put processes in place that willenable them to:n Check the validity of opt-out noticesn Notify the scheme of the opt outn Stop the deduction and payment ofcontributionsn Refund contributions to the jobholder
  13. 13. Connect to 138. Safeguarding individualsWith effect from July 2012 the workplace pensionreform introduced new duties and safeguards thatemployers must adhere to. The safeguards areintended to protect individuals, meaning there arecertain things the employer must not do, both beforea person starts working for them and once thatperson is a member of a pension scheme with thatemployer.The safeguards have been put in place to protectentitled workers and jobholders, but the prohibitedrecruitment safeguard extends this protection to jobapplicants as well.Unless the jobholder asks to leave, or is already anactive member of another qualifying pension schemewith that employer, the employer must not take, orfail to take, any action that results in either:n The jobholder ceasing to be an active member ofa qualifying schemen The scheme of which they are an active memberceasing to be a qualifying schemeThe employer must not treat a worker unfairlyor dismiss the worker on grounds related to theemployer duties.InducementsThe law relating to inducements is an importantsafeguard for entitled workers and jobholders. Aninducement is any action taken by the employer, thesole or main purpose of which is to attempt to induce:n A jobholder to opt out without becoming anactive member of a qualifying scheme witheffect from the date on which they originallybecame an active member (ie their automaticenrolment date or enrolment date)n A jobholder or an entitled worker to ceaseactive membership of a pension scheme withoutbecoming an active member of another schemewith effect from the day after the originalmembership ceased.Any entitled worker’s or jobholder’s decision to optout of, or leave, their current pension scheme shouldbe taken freely and without being influenced by theemployer.
  14. 14. 14 Preparing for Auto-enrolmentThe intention of the legislation is to encourage pension saving at a minimum level, not to restrict flexiblebenefits packages that employers wish to offer their workers and the individual retains the right to choosethe make-up of their flexible benefits. However, employers must be confident that, in offering such apackage, their sole or main purpose is not to induce individuals to opt out of a qualifying scheme.Prohibited recruitment conductThe aim of this measure is to deter employers from trying to screen out job applicants on grounds relatingto potential pension scheme membership.9. Keeping recordsWith the introduction of the employer duties from 2012, there is now a new legal requirement on employers,trustees, managers and providers to keep certain records.The records an employer must keep will enable them to prove that they have complied with their duties.Keeping accurate records also makes good business sense because it can help an employer to:n Avoid or resolve potential disputes with employeesn Help check or reconcile contributions made to the pension scheme.The employer must also keep records relating to the pension scheme and the pension scheme must keeprecords relating to the active members and opt outs.Who the record relates to What record must be kept How long it must bekeptJobholders and workerswho become membersName, national insurance number, date of birth, gross earnings in each relevant payreference period, the contributions payable in each relevant pay reference period by anemployer to the scheme, and the amount payable. This includes contributions due on theemployer’s behalf and deductions made from earnings.The date contributions were paid to the scheme 6 yearsAdditional informationfor jobholders onlyAutomatic enrolment date, opt-in notice (original format), and the contributions to whichthe jobholder is entitled under the scheme rules (this demonstrates that the schemeused is a qualifying scheme)Opt-out notice (original format) 4 yearsAdditional informationfor workers onlyDate with effect from which the worker became an active memberJoining notice (original format)6 yearsAll workers for whom theemployer has used postponementName, national Insurance number (where one exists) and date the notice was sent to theworker
  15. 15. Connect to 15
  16. 16. Tenon Financial Management Limited is authorised and regulated by the Financial Conduct Authority, FCA registernumber 192618. A subsidiary of RSM Tenon Group PLC. RSM Tenon Group PLC is an independent member of the RSMInternational network. The RSM International network is a network of independent accounting and consulting firms eachof which practices in its own right. RSM International is the brand used by the network which is not itself a separate legalentity in any jurisdiction. RSM Tenon Financial Management Limited (No 03953153) is registered in England and Wales.Registered Office 66 Chiltern Street, London W1U 4GB. EnglandBWF07470413 KD/7484/7513 exp: 06/04/2014