Auto Enrolment

Auto Enrolment

Under the Pensions Act 2008, every employer in the UK must put certain staff into a workplace pension scheme and contribute towards it. This is called ‘automatic enrolment’. If you employ at least one person you are an employer and you have certain legal duties.
What you need to do next will depend on whether you’re about to start your automatic enrolment duties or whether you’re coming back for re-enrolment.
Icon Financial can help you tackle these complicated questions.
To make your auto-enrolment process smoother-

  • We will provide in-depth information to ensure your business has all it needs to make informed choices. 
  • We can help explain these choices to your employees so that you can get back to taking care of your business. 

Aged 22 to State Pension age (SPA) and earns above the earnings trigger for auto-enrolment (currently £10,000 a year/£833 a month/£192 a week – 2020/2021 tax year) and working or ordinarily working in the UK.

 

Aged between 16 and 21 or aged between State Pension age (SPA) and 74 and have qualifying earnings above the earnings trigger for auto-enrolment (currently £10,000 a year/£833 a month/£192 a week – 2020/2021 tax year) *or* are aged between 16 and 74 and have qualifying earnings between the lower earnings threshold (currently £6,240 a year for the 2020/21 tax year) and the earnings trigger for auto-enrolment (currently £10,000 a year/£833 a month/£192 a week – 2020/21 tax year).

Aged between 16 and 74 and has earnings less than the lower earnings threshold (currently £6,240 a year/£520 a month/£120 a week for the 2020/21 tax year)