Pension Auto-enrolment - What is it?
Posted on 19th October 2016 at 12:00
Pension auto-enrolment was introduced as part of the Pensions Act 2008, amid growing concerns that the population in general was neglecting opportunities to make payments towards state, private, and employer pensions.
In October 2012, auto-enrolment into a workplace pension scheme became mandatory for large companies in the UK. All employees in the UK between the ages of 22 and state pension age will be eligible for the scheme, so long as they earn above the £10,000 income threshold. By 2018, companies of all sizes (as small as 1 director and 1 employee) will be included in the scope of the legislation. So what does this mean for limited companies?