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Workplace Pensions


tish501
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Hi all,looks like we cannot avoid it no matter how many staff we have....received a letter last week....my staging date is Feb 2017,but i have to appoint a point of contact person before 30 Apr 2015...look like it is going to be me....more work on an already overworked owner...anyone else heard from them ??

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Yes I had that letter too - to be honest I've just filed it away :ph34r: I wasn't sure if it was a genuine letter or someone trying to get me to buy their services!

wish I could have filed mine too....hate all the extra paperwork and money

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Hello,

Yes our account manager will be dealing with this aspect of our preschool.

It will be a staggered approach (2016 - 2017) and does depend on each staff members annual salary. The scheme will still need to be set up by the employer even if staff choose to opt out. Apparently there will be exact wording and information that need to be shared with employees but the accountant made it sound straight forward.

Also I was made aware when the employer makes a contribution the employee would also be matching that level of pension contribution.

See what happens!!

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The basic info is available by following this link - it is worth checking out your staging date as mine has changed from the one originally provided! Initially the employer contribution is 1% but this rises to 3% in 2018. This will be quite a significant increase to the wages bill and for those of us whose income is mainly from early education funding where we have had no increases forever I'm not quite sure where we will find the money - I foresee some hard choices about staffing :(

 

https://www.gov.uk/workplacepensions?gclid=CNzX_Lzwm8QCFSSe2wodGCgAtQ

 

More in depth info is available from the Pensions Regulator

http://www.thepensionsregulator.gov.uk/employers/tools/employer-contributions.aspx

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I was worried but it says earning more than £10,00 per yr and none of our staff do at present, although if Bham Council goes ahead with making us pay the Living Wage that might change :(

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At present I am the only person who will be automatically enrolled, and one of my deputies can opt in. Everyone else earns so little that they can join if they want, but probably won't! I have no idea how we will afford even my contributions.

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Our staging date is Feb 2016. Its not 'quite' as complicated as I first thought and it is probably going to have to be me that has to manage it. There is no point in getting committee member (as our employers it should be their responsibility) to sort it and I am sorely tempted but as they (all five ) leaving us in July seems pointless. I already run the payroll and the software I use is set up to do pension contributions as well. However I have said I will only do it if 1. we can pay straight into the governments pension scheme they are setting up (I'm not taking responsibility for shopping around for pension schemes) and 2. It really is as straightforward as they are telling me in the brochure it is!

 

I will only have two of us that are 'automatically enrolled' but six that can if they want ( i dont think they will) However as my staff leave or change there is no guarantee that the situation may not change for that. Like others quite how we are supposed to find even just 1% (rising to 3 by 2018) for the employers contribution is another story.

Anyway we will see- with a general election looming who knows what a change of government may bring?

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I got a letter today addressed to me and now reading this I realise it's because I am the only one eligible. I did pass it onto my treasurer who said she will pass it onto the accountant so hopefully something will get done before the 2017 date that was on it.

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Shhhhhh...........could you all please quieten down a bit.......what is that I can hear?

Oh yes, of course, it's the final nail being hammered in for PVI :ph34r:

Absolutely Sunnyday, finally, after all these years of clambering over obstacles I think we might be at the end unless of course the next Govt pays us what it costs to deliver the care and education they want!

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