In 2012, the UK Government introduced ‘Automatic Enrolment’ making it mandatory for employers to offer a workplace pension to eligible staff members.
Over a decade has passed since its implementation, auto-enrolment can still be a daunting prospect for many employers. However, it is vital that they navigate the relevant rules and regulations to ensure ongoing compliance.
As of July 2024, to be eligible for auto-enrolment, staff members must:
- Meet specific criteria laid out by the HMRC to be classed as a “worker”[1]
- Be aged between 22 and the current State Pension Age[2]
- Earn at least £10,000 per year
- Ordinarily work in the UK
Staff who don’t meet the necessary criteria can still be enrolled and contribute, but they must request this and earn a certain amount to receive employer contributions.
[1] See gov.uk/employment-status/worker
[2] Age 66 for men and women as of July 2024
To find out more, download the full factsheet here.
The content within this website should not be looked upon as advice or recommendation. Clients should seek appropriate guidance from their employee benefits consultant.
Acumen Employee Benefits Ltd, FRN 916905, is an appointed representative of Acumen Financial Planning Ltd, which is authorised and regulated by the FCA, FRN 218745.