Getting ready for Automatic Anrolment.
• Understand the employer duties.
• Engage the professionals you will use to help you with your employer duties.
• Choose a pension.
• Check the suitability of payroll and IT software.
• Find out who to enrol.
• Decide how you will communicate the pension changes to your workforce.
• Determine if you will use postponement and how.
fringe benefits are the benefits given in an organisations as an extra benefits. it includes lot of benefits like extra wages, employment security, health protection, personnel identification, retirement compensation, retrenchment compensation etc.
Supplemental Unemployment Benefits (SUB) by TSI Lana Mellis
Supplemental Unemployment Benefits (SUB) Plans are quickly gaining popularity across industries as a less costly alternative to severance. The IRS approved Plan structure works to simultaneously maintain the income of displaced employees while also generating significant savings for the organization compared to traditional severance, typically 30-45%. This presentation gives a general overview of how a SUB Plan is structured and administered, and demonstrates two examples of real savings achieved by organizations that switched from traditional severance to SUB.
fringe benefits are the benefits given in an organisations as an extra benefits. it includes lot of benefits like extra wages, employment security, health protection, personnel identification, retirement compensation, retrenchment compensation etc.
Supplemental Unemployment Benefits (SUB) by TSI Lana Mellis
Supplemental Unemployment Benefits (SUB) Plans are quickly gaining popularity across industries as a less costly alternative to severance. The IRS approved Plan structure works to simultaneously maintain the income of displaced employees while also generating significant savings for the organization compared to traditional severance, typically 30-45%. This presentation gives a general overview of how a SUB Plan is structured and administered, and demonstrates two examples of real savings achieved by organizations that switched from traditional severance to SUB.
How to estimate the number of errors that can appear in your paper or proposal based on the number of errors in your problem statement or thesis statement
Accessibility is a complex property of information, a composite of several different indicators that measure the ease with which one can get to and work with information from another source. These different indicators of accessibility scale differently with the size and scope of information. As the datasets get bigger, some indicators remain constant, some scale linearly, while others may scale in a more accelerated manner. At the University of Wisconsin Carbon Modeling group, we are building a very large, spatially accessible U.S. national climate dataset for ecosystem process modeling that is bringing up unique challenges and lessons for accessibility in the multi-Terabyte scale datasets. This paper describes the problem, and the information accessibility challenges and lessons learned while putting together its solution.
DCNS a sélectionné XWiki Enterprise pour sa capacité à créer très rapidement de nouveaux sites wiki ainsi que pour ses capacités de création d'applications. La solution a également été intégrée avec l'infrastructure Single Sign On (SSO) de DCNS et avec son portail (basé sur Liferay) . XWiki a dû répondre aux critères de sécurité stricts de DCNS pour pouvoir être mis en œuvre.
Cost Control Across Cloud, On-Premise and VM Computers by Mark Lavi, Calm.ioDocker, Inc.
Anecdotal numbers suggest that more than 40% compute resources are under utilized -- from unused cloud instances to virtual machines running on bare-metal. Hundreds of QA & Dev nodes to thousands of production instances could be shutdown, and brought back to the same state on demand. That's what cloud is about -- agility and efficiency, but our on-premise datacenter habits have migrated to the cloud as well.
Calm's DevOps automation platform helps fix our old habits. Calm provides a single pane of glass across cloud and on-premise, integrating with Chef, Puppet and Docker ecosystems. The single pane of glass enables orchestration, cost-control and on-demand provisioning.
I am health adviser . I have presented about AUTONOMIC NERVOUS SYSTEM. It tells about how to balance our health. and much more. i am concerned about the subject
Auto Enrolment: Part two: Getting StartedJames McQueen
Advice on how to develop the planning process.
Assumes knowledge of part one of an introduction to automatic enrolment and the employer duties or equivalent.
How to estimate the number of errors that can appear in your paper or proposal based on the number of errors in your problem statement or thesis statement
Accessibility is a complex property of information, a composite of several different indicators that measure the ease with which one can get to and work with information from another source. These different indicators of accessibility scale differently with the size and scope of information. As the datasets get bigger, some indicators remain constant, some scale linearly, while others may scale in a more accelerated manner. At the University of Wisconsin Carbon Modeling group, we are building a very large, spatially accessible U.S. national climate dataset for ecosystem process modeling that is bringing up unique challenges and lessons for accessibility in the multi-Terabyte scale datasets. This paper describes the problem, and the information accessibility challenges and lessons learned while putting together its solution.
DCNS a sélectionné XWiki Enterprise pour sa capacité à créer très rapidement de nouveaux sites wiki ainsi que pour ses capacités de création d'applications. La solution a également été intégrée avec l'infrastructure Single Sign On (SSO) de DCNS et avec son portail (basé sur Liferay) . XWiki a dû répondre aux critères de sécurité stricts de DCNS pour pouvoir être mis en œuvre.
Cost Control Across Cloud, On-Premise and VM Computers by Mark Lavi, Calm.ioDocker, Inc.
Anecdotal numbers suggest that more than 40% compute resources are under utilized -- from unused cloud instances to virtual machines running on bare-metal. Hundreds of QA & Dev nodes to thousands of production instances could be shutdown, and brought back to the same state on demand. That's what cloud is about -- agility and efficiency, but our on-premise datacenter habits have migrated to the cloud as well.
Calm's DevOps automation platform helps fix our old habits. Calm provides a single pane of glass across cloud and on-premise, integrating with Chef, Puppet and Docker ecosystems. The single pane of glass enables orchestration, cost-control and on-demand provisioning.
I am health adviser . I have presented about AUTONOMIC NERVOUS SYSTEM. It tells about how to balance our health. and much more. i am concerned about the subject
Auto Enrolment: Part two: Getting StartedJames McQueen
Advice on how to develop the planning process.
Assumes knowledge of part one of an introduction to automatic enrolment and the employer duties or equivalent.
Automatic Enrolment functionality has been elegantly integrated into Qtac. Setting up your pension scheme, enrolling employees, issuing communication, making contributions and viewing reports – it's all seamless and simple.
Employees need to be automatically enrolled if they:
Are aged between 22 and State Pension Age
Earn more than £10,000 a year (2014/15 limit)
Work in the UK
If a company does not have a qualifying pension scheme then it must introduce one. If the employer doesn’t currently make a contribution to the pension, they will have to by law when they ‘automatically enrol’ entitled workers.
Your clients are responsible for ensuring they have a compliant pension scheme in place and that the correct employees and employers contributions are paid into the scheme.
What’s the reason for auto enrolment? The average life span has increased and people are living a lot longer. These changes to pensions are because the current state pension will just not be sufficient when retiring and therefore trying to encourage people to save for retirement.
Jobholders
Eligible jobholder
The employer must
automatically enrol and make contributions
if using postponement, provide a notification to the eligible jobholder
process any opt-out notice
automatically re-enrol approximately every three years
keep records of the automatic enrolment process
Non-eligible jobholder
The employer must
arrange pension scheme membership if the non-eligible jobholder decides to opt-in, and also make contributions
provide information about the right to opt-in, unless using postponement
if using postponement, the employer must provide a notification to the non-eligible jobholder & keep records of the enrolment process
Entitled worker
The employer must:
arrange pension scheme membership if the entitled worker decides to join
provide information about the right to join, unless using postponement
if using postponement, provide a notification to the entitled worker
keep records of the joining process
A clients choice of automatic enrolment pension scheme could have an impact on the payroll processing time and costs involved.
Some of your clients may have an existing scheme, in this scenario they should ascertain with their pension provider whether it meets automatic enrolment requirements and is therefore classed as a qualifying scheme.
Auto Enrolment - Dispelling the Myths
These are the common myths by topic:
• Nominate a point of contact
• Nominating a point of contact is the same as registration.
• The nominated contact is responsible for complying with the automatic enrolment duties.
• Know your staging date and develop a plan
• Staging dates are based on current employee numbers.
• If you use a different PAYE your staging date changes.
• Another company’s PAYE will not affect your staging date.
• Postponement delays the staging date.
We’ve compiled a list of questions that we’re commonly asked by our clients about automatic enrolment, and answered them on the following slides.
From 'What is automatic enrolment,and does it apply to me?' to 'How do I choose the right pension supplier?' you'll find the most frequently asked questions - and the answers you need.
If you're a small business owner and worried about the new pension rules and regulations this comprehensive guide will help you set-up and manage your new auto-enrolment workplace pension scheme.
An Introduction to Auto Enrolment by Qtac
Be confident with:
Work Place Pensions
Auto Enrolment
The Pensions Regulator
Pension Providers
Auto Enrolment Functionality in QTAC Payroll
Planning for Success
What is Auto Enrolment?
‘Workplace Pension Reform’ is the term used to describe the changes to pensions in the UK, where employees are automatically enrolled into an ‘Automatic Enrolment’ pension scheme, as long as they ‘qualify’.
A workplace pension, which is arranged by the employer, is a way for employees to save for retirement. Some workplace pensions are also called ‘occupational’, ‘works’, ‘company’ or ‘work-based’ pensions.
If a company already has a pension scheme they will need to check that it ‘qualifies’ if their plan is to use that scheme as their ‘Workplace Pension’.
Companies who do not currently have a pension scheme setup will need to set up an ‘Auto Enrolment’ scheme. The pension scheme must ‘qualify’ - meaning the employee and employer contributions match or exceed the minimum contributions (detailed later in this document) and also that no restrictions are placed on membership.
Every company will be required to offer employees the chance to join a pension scheme, which both the ‘employee’ and ‘employer’ will contribute in to. The employer has to contribute at least the minimum contribution into the scheme in order for the scheme to qualify.
In most cases the government also add money into the pension scheme in the form of tax relief.
Employees need to be automatically enrolled if they:
Are aged between 22 and State Pension Age
Earn more than £10000 a year (2014/15 limit)
Work in the UK
If a company does not have a qualifying pension scheme then it must introduce one. If the employer doesn’t currently make a contribution to the pension, they will have to by law when they ‘automatically enrol’ entitled workers.
Employers are responsible for ensuring they have a compliant pension scheme in place and that the correct employees and employers contributions are paid into the scheme.
One Year in into the Pension Reform
More than 750,000 members
Over 2,350 employers
Opt outs around 8 per cent
Staging Dates
Each company will have their own staging date, your auto enrolment staging date is determined by the size of your PAYE scheme on the 1st April 2012. Staging dates will be staggered, with larger employers starting sooner and small employers starting later.
How do I find it out? Visit The Pensions Regulators website
Use the Staging Date Calculator
www.thepensionsregulator.gov.uk/
A company can choose to move it’s staging date to an earlier date but it cannot be moved to a later one.
A pension scheme can be setup for employees at any time. You do not have to wait until auto enrolment is introduced.
We recommend that you give yourself plenty of time to prepare for auto enrolment.
A detailed guide of the regulations facing UK employers dealing with workplace pension auto enrolment. This guide gives a valuable insight into what must be done to ensure your processes are both compliant and legal.
Asset Classes - Building a diversified portfolioJames McQueen
When putting together an investment portfolio, there are a number of asset classes, or types of investments, that can be combined in different ways.The starting point is cash – and the aim of employing the other asset classes is to achieve a better return than could be achieved by leaving all of the investment on deposit.
The 7 habits of highly effective peopleJames McQueen
The Seven Habits of Highly Effective People introduces the habits which single out people who deal particularly effectively with the world around them.
The Tipping Point discusses why certain ideas, products and behaviors spread like epidemics and what we can do to consciously trigger and have control over such epidemics.
Automatic Enrolment - Employer duties and defining the workforceJames McQueen
Employer duties and defining the workforce: An introduction to the new employer duties.
This guidance is aimed at professional advisers and employers with in-house pensions professionals.
It is the first in a series of guidance that explains the new employer duties and safeguards in detail. Illustrative examples throughout the series show further how the laws will apply in practice.
Auto Enrolment: Systems & Schemes
• Your pension arrangements
• Your payroll & IT systems
• The questions you might need to ask to ensure these systems work together
• Who will be involved and what will be their role
Auto Enrolment: Identifying your workforce and calculating minimum contributi...James McQueen
Automatic enrolment: Changes in legislation - 1 April 2014
Since the recording of this webinar there have been a number of changes in automatic enrolment legislation. The principles described remain the same. The changes are:
• The deadline for completing registration with the regulator has been extended to five calendar months.
• The period for completing automatic enrolment (joining window) has been extended to 6 weeks
• A new definition of a pay reference period has been introduced which allows employers to choose to align the assessment of their workers to tax weeks or tax months
• The deadline for a number of the information requirements has been extended to 6 weeks www.tpr.gov.uk/docs/resource-info-to-workers.pdf
• The Opt-out window remains as one calendar month.
• For the earnings thresholds for the current tax year visit our website at: www.tpr.gov.uk/earnings-thresholds
Automatic Enrolment and Pensions Language GuideJames McQueen
How the guide works. The language guide is in two parts:
Part 1: Automatic enrolment terms. This uses findings from research commissioned by DWP into automatic enrolment information for workers1.
Part 2: Wider pensions terms. This builds on NEST’s phrasebook and existing best practice.
Our recommendations for using terms when communicating with individuals are broken down into the following categories:
•Use the term as it is, without change or explanation.
•Use a new term and our recommended replacement term is provided.
• The term can be used but must be defined the first time you use it and possibly more than once if it is a long communication. Our recommended definition is provided.
•Some terms should be avoided and we give you an alternative approach.
For automatic enrolment terms, we have given guidance on using the terms and some practical examples, including definitions for use in communications to employers.
Who is a worker?
Which staff need to be assessed?
Advice on dealing with contractors and secondments into or out of the UK.
Assumes knowledge of part one of an introduction to automatic enrolment and the employer duties or equivalent.
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Card
Auto Enrolment: Are You Ready?
1. MAR14WEBINAR These slides remain the property of The Pensions Regulator and their content should not be altered on reproduction.
Neil Esslemont
Head of Industry liaison team
Rebecca Woodley
Industry liaison team
13 March 2014
Automatic enrolment webinar
Are you ready?
The information we provide is for guidance only and should not
be taken as a definitive interpretation of the law.
2. MAR14WEBINAR These slides remain the property of The Pensions Regulator and their content should not be altered on reproduction.
Introductory information
• This webinar assumes a basic understanding of automatic enrolment
• You may wish to look at our planning tool for more information
• These slides are available to download now
3. MAR14WEBINAR These slides remain the property of The Pensions Regulator and their content should not be altered on reproduction.
Getting ready for automatic enrolment
• Understand the employer duties.
• Engage the professionals you will use to help you with your employer duties.
• Choose a pension.
• Check the suitability of payroll and IT software.
• Find out who to enrol.
• Decide how you will communicate the pension changes to your workforce.
• Determine if you will use postponement and how.
4. MAR14WEBINAR These slides remain the property of The Pensions Regulator and their content should not be altered on reproduction.
Automatic enrolment legislation gives employers a duty to:
automatically enrol all eligible jobholders
communicate to workers providing timely and appropriate information
allow non-eligible jobholders to opt in and entitled workers to join
manage opt outs within the opt-out period and promptly refund contributions
automatically re-enrol all eligible jobholders every three years
complete the Declaration of compliance (Registration) with the Regulator
keep records, and
pay the pension contributions to the scheme provider
The employee safeguards state that employers:
must not induce workers to opt out or cease membership of a scheme
must not indicate to a potential jobholder that their decision to opt out will
affect the outcome of the recruitment process.
Overview of legal duties and safeguards
5. MAR14WEBINAR These slides remain the property of The Pensions Regulator and their content should not be altered on reproduction.
Planning tool:
www.tpr.gov.uk/planner
Planning timeline
6. MAR14WEBINAR These slides remain the property of The Pensions Regulator and their content should not be altered on reproduction.
Engage professional help
You may wish to ask the following for their help:
• pension providers,
• financial advisers,
• payroll software or middleware providers,
• accountants, and/or
• bookkeepers.
You should consider:
• what elements of the duties they will help you with, and
• remember that the responsibility with complying with the
automatic enrolment legislation will remain with the employer.
7. MAR14WEBINAR These slides remain the property of The Pensions Regulator and their content should not be altered on reproduction.
What to do before your staging date
• Choose a pension
• Examine your workforce
• Communicate to staff
• Check processes and software
• Finalise your action plan
These may need to be
done at the same time or
in any order
8. MAR14WEBINAR These slides remain the property of The Pensions Regulator and their content should not be altered on reproduction.
Pension schemes:
• Defined contribution (DC) – eg money purchase
• Defined benefit (DB) – eg final salary or career average
DC schemes can be contract-based or trust-based:
• A contract pension scheme is where there is a contract between the
employee/worker and the pension provider.
• In a trust-based scheme, the trustees are responsible for delivering the
terms of the trust and for running it in the best interests of its beneficiaries.
• Master trusts offer pensions to employees of more than one employer.
• Some pension providers specialise in providing master trust pensions
(also known as super trusts).
Pension scheme types
9. MAR14WEBINAR These slides remain the property of The Pensions Regulator and their content should not be altered on reproduction.
What pension schemes can be used?
must be registered in the UK or EEA*
must have no barrier to automatic enrolment
must be a qualifying scheme
Automatic enrolment scheme
Qualifying scheme
must be tax registered:
and meet minimum criteria
Workers already
active members of a
qualifying scheme do
not need to be
automatically enrolled
Must be used
for automatic
enrolment and
opt ins
Employers will
need to contribute
to the pension
scheme
*European Economic Area states
Employers may also
use a qualifying scheme
or an automatic
enrolment scheme for
entitled workers
Scheme for
entitled
workers
scheme
is registered
Employers are not
required to make an
employer contribution
10. MAR14WEBINAR These slides remain the property of The Pensions Regulator and their content should not be altered on reproduction.
Using an existing pension scheme
• If you have an existing scheme*, what can you use it for?
• Is it a qualifying scheme and does it satisfy the minimum criteria?
– If it is not a qualifying scheme, it may be possible to change the
scheme rules, so that active members would not need autoenrolment.
– If it is a contract-based scheme, it is likely to need a jobholder
agreement for each active member (an agreement by the member to
pay the difference between the employer contributions and the legal
minimum total contribution).
• Do you also want to use this scheme to automatically enrol your workers?
– Your existing scheme provider may not allow it be made an automatic
enrolment scheme (eg the scheme provider would need to provide
opt out forms on request).
* View our webinar on Implementing automatic enrolment systems and pension schemes.
11. MAR14WEBINAR These slides remain the property of The Pensions Regulator and their content should not be altered on reproduction.
Choosing a new pension – factors to consider
It is the employer’s responsibility to choose a pension scheme for their workers.
Some things to consider:
• Most people will stay in the default fund
– does it provide value for money?
• Some providers can cater for a wider range of languages for members
than others.
For help on how to select a good scheme, please see:
www.tpr.gov.uk/employers/setting-up-a-pension-scheme.aspx
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Choosing a new pension – factors to consider continued
Different pension providers may have different criteria for accepting employers
and may ask you about:
• the number of staff expected to be enrolled
• estimated average pension contributions per member per month
• payroll frequency (some providers may not assess weekly paid staff).
You may also wish to view our webinar on ‘Implementing automatic enrolment
systems and pension schemes’ (see our Useful links slide).
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Choosing a new pension – how to find one
How will you find a suitable pension if you need or want to use a new scheme?
• For further information and a list of pension providers see:
– The National Association of Pension Funds (NAPF)*
– The Association of British Insurers(ABI)*
• Pension providers
– Not all pension providers may offer you a pension scheme
– They may not give you an answer immediately so ask for their timescales
– Providers may be at full capacity or have long waiting times
– You may wish to ask more than one provider at a time.
• National Employment Savings Trust (NEST)* is a pension scheme that all
employers can use to meet their duties but don’t leave it too late.
* These can be found on our Useful links slide
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Mandatory communications to staff
There are a number of occasions where an employer is required by law to
communicate with their workers:
• At staging you need to communicate to all workers, even scheme members.
• The information will need to be provided directly – by letter, email
(or other direct means).
– Who will do what communications – employer or the pension provider?
– You are likely to want to customise the letter templates*.
• When will you issue these letters/email (and at what point in the pay cycle)?
• How will you check your employee data is accurate (eg addresses)?
Remember: statutory opt out forms should not be issued by the employer.
* See our Useful links slide
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Additional communications to staff
Many employers will want to communicate more than the statutory minimum:
• Are your staff aware of any changes to existing pensions arrangements?
• Do you need to formally consult with staff/unions on these changes?
• Many employers have chosen to communicate early to their staff.
• You may wish to use wall posters or news bulletins (eg paper or intranet).
• There is a ‘We’re all in’ poster available to download on our website (you can
add your company name and logo) at www.tpr.gov.uk/employers/raising-
awareness-about-automatic-enrolment.aspx
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How and when to communicate to workers
• Statutory communications must be direct (eg letter, email, payslip).
• At staging, you need to communicate to all workers, even scheme members.
• Need to inform of rights the first time* a worker becomes a particular
category
*Unless they are already an active member of a scheme provided by the employer and, if they are a jobholder, the
scheme is a qualifying scheme. The use of a general notice A or B postponement notice discharges this duty.
Communication Deadlines for communication
Existing scheme members at staging 2 months after staging
Workers who are not already in a qualifying pension scheme
at staging
6 weeks after staging (or 1 month after staging, for employers
staging on or before 1 March 2014)
Enrolment notifications and
transitional period notices
6 weeks from the assessment date (eg before midnight of
Monday 12 May, if assessment date is Tuesday 1 April).
Postponement notices 6 weeks from the day after the assessment date (eg before
midnight on Tuesday 13 May, if assessment date Tuesday 1
April).
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What to communicate to workers
• On staging, workers already members of a qualifying pension scheme must
be provided with information* about the scheme.
• Non-eligible jobholders and entitled workers must be provided with
information* telling them about their right to opt in or join a pension scheme.
• For eligible jobholders being automatically enrolled (and non-eligible
jobholders being enrolled after opting in) they must be provided* with:
information about their enrolment,
what it means for them, including the contributions, and
their right to opt out.
• Workers subject to a postponement need to be given key information* such
as the length of the postponement period and their rights to opt in or join.
* See Useful links for template letters
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Check suitability of payroll and IT systems
• What software* will you use to carry out:
– assessment
– enrolment
– communications, and
– calculation of pension contributions
• This is likely to require data held by payroll and HR systems.
• Choices:
– payroll software, and/or
– non-payroll software – middleware
(this may be offered by the pension scheme provider).
* View our webinar on Implementing automatic enrolment systems and pension schemes
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Automatic
enrolment
process
Assessment process
Assessment results
Payment £
Payroll data £
Payroll
instructions £
Pension scheme
rules £
Enrolment
letter to worker
Enrolment
instructions
to pension provider
Calculate
deduction
Assess
Run
payroll
Enrol
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Software issues
• Do you want to use payroll or middleware software to assess your workers?
– can your payroll provider do this for your payroll product/version?
– or would you need to upgrade your payroll system to do this?
• How will you automate staff communications (eg mailmerge software)?
• Can your IT/computer systems cope if you need to run additional software?
• How will you ensure all your data is accurate and up to date
(eg NI numbers, dates of birth, addresses).
• Where is the data stored (eg on an integrated HR/payroll or separately)?
• How will these systems work together – what data standards do they
support? Will you need to send data over your network or over the internet?
• Will all of the software do what you need it to do?
• You should plan to test these systems before you go live.
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Finalising your action plan
What needs to happen after staging?
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Automatic enrolment and Opt Outs
Window for possible Opt-Out period
Latest possible date
opt-out period ends
(unless invalid opt-out
extends opt-out period
to 6 weeks)
1 month
Earliest possible date
opt-out period ends
Latest date by which active membership and provision
of jobholder information and enrolment information
must be achieved and therefore the latest possible start
date for 1 month opt-out period.
6 weeks
Joining window
Backdating of scheme
membership to the
automatic enrolment date
Earliest possible start date
for 1 month opt-out period
1 month
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Scenario A
Assessment
date on first
day of PRP
Yes
UK worker
aged 22 to SPA?
No statutory
duty to enrol
No
Staging date
31st
C
1st
R P0 C
1st
R P1 C
1st
R P2
31st30th
Yes
Total QE
paid in PRP
> earnings
trigger ?
No
Staging and a calendar month PRP
• Pay reference period runs from 1st
to last day of each month
• Assessment date is 1 April
• Total qualifying earnings may not
be known until payroll cutoff or later.
If the worker needs to be
automatically enrolled:
• First deduction needs to made
in payday P1 on 28 April
• Opt-Out window may not start
until after deduction taken
• Scheme contribution based on
100% of May pensionable pay.
Monthly pay
reference period (PRP)
Key:
C – Payroll cutoff
R – Payroll run
P – Payday
Issue letter to worker
and set up active
membership
Opt-Out
window could start
28th 28th
28th
Automatic enrolment
triggered
March April May
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Postponement
• Postponement suspends the duty of automatic enrolment and the need to
assess and can be used:
– at the employer’s staging date for any or all existing workers
– on the first day of employment for any new joiner after the staging date, and
– on the date a worker meets the criteria to be an eligible jobholder.
• Only one postponement per worker can be made at a given time.
• Each worker can be postponed from one day up to maximum of three months.
• The employer must notify any postponed worker within six weeks of the start
of postponement.
• The worker has the right to opt in or join during postponement.
• Employer must assess on the last day of postponement and:
– automatically enrol eligible jobholders, and
– for those workers not eligible, monitor them each future pay period.
Postponement does
not change or delay
the staging date
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6 weeks
Timescales for postponement at staging
6 weeks
Joining window
Backdating of scheme
membership to the
automatic enrolment date
Up to 3
months
postponement
Staging date
Assessment date/ automatic
enrolment date
(for eligible jobholders)
Opt ins could
be received
from this date
Latest date by which active
membership and provision of
jobholder information and
enrolment information must
be achieved.
Postponement
notices must be
issued by this date
(for staff postponed
on the staging date)
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Opt-ins – one calendar month pay reference period
6 weeks
Joining window
Staging date
Earliest opt in enrolment date
(for monthly paid jobholders)
Opt-in request received
in this period
1 month PRP 1 month PRP
Latest date by which active
membership and provision of
jobholder information and
enrolment information must
be achieved.
Backdating of scheme
membership to the
enrolment date
1st 1st
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Achieving active membership
• For a trust-based scheme, an employer:
– needs to communicate to the trustees to establish active membership
– needs to understand when active membership starts (eg with NEST it is
on the 3rd working day after processing the enrolment request).
• For a contract-based scheme an employer:
– will have to make arrangements with the pension scheme provider, so
that the jobholder is given the terms and conditions of the contract
– will need to know when the pension provider does this.
• In both instances, there will be a process to follow and, once understood,
these timings can be factored into your timelines.
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Example timeline 1 (for 1 April 2014 staging date)
Action/Communication Deadline
Assess any requests to opt in during first pay reference
period (1 April to 30 April)
Based on qualifying earnings paid in that pay reference period
(eg based on earnings on 30 April payday)
Issue postponement notices (eg general notice A) to
all existing workers
Six weeks from the day after the staging date: on or before
midnight Tuesday 13 May
Issue postponement notices (general notice A or B) to all new
joiners after staging
Six weeks from the day after their start date (eg before midnight
Wednesday 14 May, for a worker who joins the company on
Wednesday 2 April)
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Example timeline 1 (for 1 April 2014 staging date)
Action/Communication Deadline
Assess any requests to opt in during first pay reference
period (1 April to 30 April)
Based on qualifying earnings paid in that pay reference period
(eg based on earnings on 30 April payday)
Issue postponement notices (eg general notice A) to
all existing workers
6 weeks from the day after the staging date: on or before
midnight Tuesday 13 May
Issue postponement notices (general notice A or B) to all new
joiners after staging
6 weeks from the day after their start date (eg before midnight
Wed 14 May, for a worker who joins the company on
Wednesday 2 April)
Reassess any jobholders who requested to opt in during 1
April to 30 April to confirm still a jobholder
Based on qualifying earnings paid in next pay reference period
of 1 May to 31 May (eg on 31 May payday)
Enrol jobholders who requested to opt in during
1 April to 30 April:
• Send enrolment information to pension provider
• Send jobholder notification of enrolment
• Ensure active membership achieved:
issue pension scheme terms and conditions
(if applicable, eg for contract-based schemes)
issue pension scheme jobholder agreement
(if applicable, eg for some contract-based schemes)
On or before midnight Wednesday 11 June
(with membership effective from Thursday 1 May)
allow time for any other processes.
A trust-based scheme will have rules on when active
membership becomes effective – this may be a fixed number of
working days after the enrolment information is received by the
pension provider.
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Example timeline 2 (for 1 April 2014 staging date)
Action/Communication Deadline
Assess workers at end of postponement (last possible day for
staging date postponements is Tuesday 1 July)
Based on qualifying earnings paid in that PRP (eg based on
earnings on 31 July payday)
Issue enrolment notifications 6 weeks from the assessment date (eg before midnight of
Monday 11 Aug, for those assessed Tuesday 1 July).
Enrol eligible jobholders assessed on 1 July:
• Send enrolment information to pension provider
• Send jobholder notification of enrolment
• Ensure active membership achieved:
issue pension scheme terms and conditions
(if applicable, eg for contract-based schemes)
issue pension scheme jobholder agreement
(if applicable, eg for some contract-based schemes)
On or before midnight Monday 11 Aug
(with membership effective from Tuesday 1 July)
allow time for any other processes.
A trust-based scheme will have rules on when active
membership becomes effective – this may be a fixed number of
working days after the enrolment information is received by the
pension provider.
Complete the Declaration of compliance (Registration) 5 months after staging = 1 Sep. The declaration cannot be
completed until all postponements applied at staging have come
to an end, but we strongly suggest that you start the process
early and enter data that is available.
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Any questions?
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Useful links
• Staging date tool:
www.tpr.gov.uk/employers/tools/staging-date.aspx
• Planning tool:
www.tpr.gov.uk/planner
• Questions to ask when selecting a new scheme provider
www.tpr.gov.uk/docs/selecting-a-good-automatic-enrolment-scheme.pdf
• Letter templates for employers:
www.tpr.gov.uk/employers/letter-templates-for-employers.aspx
• Information about registration:
www.tpr.gov.uk/employers/registration.aspx
www.tpr.gov.uk/docs/automatic-enrolment-online-registration-checklist.pdf
• Our detailed guides for employers and pension professionals:
www.tpr.gov.uk/pensions-reform/detailed-guidance.aspx
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Useful links continued…
More information about pensions and automatic enrolment:
• The Association of British Insurers:
www.abi.org.uk/pensionproviders
• The National Association of Pension Funds:
www.napf.co.uk
• National Employment Savings Trust:
www.nestpensions.org.uk
• Independent Financial Advisers:
www.unbiased.co.uk
• The Pensions Regulator:
www.tpr.gov.uk/docs/selecting-a-good-automatic-enrolment-scheme.pdf
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Useful links continued…
Other webinars:
• Automatic enrolment – dispelling the myths
www.tpr.gov.uk/press/webinar-automatic-enrolment-dispelling-the-myths.aspx
• Identifying your workforce and calculating minimum contribution levels
www.tpr.gov.uk/press/webinar-identifying-workforce-calculating-minimum-
contribution.aspx
• Implementing automatic enrolment systems and pension schemes
www.tpr.gov.uk/press/webinar-implementing-automatic-enrolment-systems-
schemes.aspx
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We would really appreciate your feedback on this webinar. Please
click on the link below to complete.
https://registration.livegroup.co.uk/ae_areyouready/engage/
Feedback
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We are here to help!
Contact us at:
www.tpr.gov.uk/contact-us.aspx
Subscribe to our news by email:
www.tpr.gov.uk/subscribe.aspx
Connect with us on LinkedIn:
www.linkedin.com/groups?gid=2675456
Follow us on Twitter:
https://twitter.com/TPRgovuk
Thank you
The information we provide is for guidance only and should not
be taken as a definitive interpretation of the law.
37. MAR14WEBINAR These slides remain the property of The Pensions Regulator and their content should not be altered on reproduction.
• Useful links
• Glossary of key terms
• Summary of deadlines
• Use of postponement
• More opt in examples
Supplementary slides
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Summary of deadlines (for deadlines ending from 1 April 2014)
Action/Communication Deadline
Letter to existing qualifying pension
scheme members at staging
2 months after staging
Letter to workers who are not already in a qualifying pension
scheme at staging
6 weeks after staging
Joining window, enrolment notifications
and transitional period notices
6 weeks from the assessment date (eg before midnight of
Monday 12 May, if assessed Tuesday 1 April).
Opt-out window 1 month - from the latest of when:
• the enrolment notification is issued, and
• active membership is achieved.
Postponement notices 6 weeks from the day after the assessment date
(eg before midnight Tuesday 13 May, if assessed on Tuesday 1
April).
Complete registration after staging 5 months after staging
Complete registration after re-enrolment 2 months after re-enrolment
Normal contribution payments to scheme provider 22nd day of the month following the month of deduction (19th day
for non-electronic payments).
New member contribution payments to scheme provider (for
all deductions made in first 3 months of membership)
22nd day (for electronic payments) of the first month, following a
three month period starting the day active membership is
effective (19th day for non-electronic payments) eg enrolments 2
January to 1 February = e-payment deadline is 22 May.
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Use of postponement
Employers have said they have used postponement to:
• Align the assessment date of new joiners starting at different dates
• Smooth the process in respect of:
– workers with unusual spikes in earnings,
– short-term workers who are expected to only work a month or two, and
– workers who trigger automatic enrolment just before ceasing employment.
• Align automatic enrolment with existing payroll processes to:
– avoid a part period contribution (eg when people are turning 22), and
– maximise length of the opt out period that falls before payroll cut-off.
• Allow time for a worker to setup salary sacrifice for pension contributions
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Opt Ins – one week pay reference period
6 weeks
Joining window
Backdating of scheme
membership to the
enrolment date
Staging date
Earliest opt-in enrolment date
(for monthly paid jobholders)
If opt-in request is
received in this period
Latest date by which active
membership and provision of
jobholder information and
enrolment information must
be achieved.
1 week pay
periods
41. MAR14WEBINAR These slides remain the property of The Pensions Regulator and their content should not be altered on reproduction.
Scenario B
Assessment
date on 1st
day of month
Yes
UK worker
aged 22 to SPA?
No statutory
duty to enrol
No
5th
C
6th
R P0 C
6th
R C
6th
R P2
5th5th
Yes
Total QE
paid in PRP
> earnings
trigger ?
No
Staging dateMonthly pay
reference period (PRP)
Key:
C – Payroll cutoff
R – Payroll run
P – Payday
Opt-out window
could start
P1
Feb March April
Issue letter to worker
and set up active
membership
Automatic enrolment
triggered
28th 28th
28th
1st
Staging with a tax month PRP
• Pay reference period runs from 6th
day to 5th day of each month
• Assessment date on 1 April (ie the
staging date) is after the March
payday P1 on 28 March
• Total qualifying earnings (in PRP 6
March to 5 April) assessed using
old tax year earnings thresholds.
If the worker needs to be
automatically enrolled (from 1 April):
• First deduction needs to made
in the next payday P2 on 28 April
• Opt-out window could start
before first deduction taken
• Contribution based on scheme rules
(eg for a legal min scheme, based on
100% of April’s qualifying earnings).
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Opt Ins – one tax month pay reference period
6 weeks
Joining window
Staging date
Earliest opt-in enrolment date
(for monthly paid jobholders)
If opt-in request is received in
this period (1st to 5th inclusive,
if not past payroll cutoff)
1 month PRP 1 month PRP
Latest date by which active
membership and provision of
jobholder information and
enrolment information must
be achieved.
Backdating of scheme
membership to the
enrolment date
1st 6th
5th 6th 5th 6th
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Glossary
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Automatic enrolment terms
• Automatic enrolment scheme – a qualifying pension scheme which can
be used for automatic enrolment
• Eligible jobholder (EJH) – a worker who must be automatically enrolled
into an automatic enrolment scheme
• Entitled worker (EW) – a worker who is entitled to join a pension scheme
• Jobholder – an eligible jobholder or non-eligible jobholder
• Non-eligible jobholder (NEJ) – a worker who has the right to opt in to an
automatic enrolment scheme
• Office holder – a person who has been appointed to a position
by a company or organisation, but doesn’t have a contract or receive
regular payment
• Personal services worker – an individual who has contracted to perform
work or services personally (this is sometimes referred to
as a ‘contract of services’)
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Automatic enrolment terms continued…
• Postponement – an optional mechanism to delay the automatic enrolment
duties for workers
• Qualifying earnings – the earnings which determine a worker’s category
(EJH, NEJ or EW) and (as a band of earnings) may be used as the definition
of pensionable earnings
• Qualifying scheme – a pension scheme which meets the minimum criteria
and so existing members who are eligible jobholders will not need to be
automatic enrolled
• Staging date – the start date of an employer’s automatic enrolment duties
• Worker – an individual who works under a contract of employment (or a
personal services worker)
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Other terms
• Active member – a person who is currently a member of the pension
scheme (and would normally be contributing to the scheme)
• Defined benefit (DB) – a pension scheme where the benefits payable on
retirement are known (eg ‘final salary’, where the retirement income is
based on the member’s salary)
• Defined contribution (DC) – a pension scheme where the contributions
are known, but the benefits are not guaranteed and are likely to depend on
the fund value at retirement
• Deferred member – a person who is no longer an active member of the
pension scheme, but has accrued some benefits (payable on retirement or
could be transferred)
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Other terms continued…
• Hybrid – a pension scheme with a mixture of DB and DC components
• PAYE (Pay As You Earn) – HM Revenue & Customs’ (HMRC)
tax payment mechanism
• PAYE scheme – HMRC’s record for an employer who employs a worker
or workers for whom PAYE taxable income is payable
• PAYE scheme reference number – a number issued by HMRC to identify
each employer’s PAYE scheme(s)
• Pensionable earnings – the earnings on which pension contributions
are due