Mint Umbrella ’s Post

If you’re an employer in the UK and hiring staff, it’s crucial to meet your legal obligations regarding workplace pensions. 💼🔍 We've put together an article that will walk you through this essential process. From understanding your duties to avoiding the consequences of missing deadlines, we've got you covered. 📋🚀 #UKEmployers #ComplianceMatters

Are you new to employing people? Do you know about the on-going duties for work place pensions. There are a few things you need to do when it comes to Workplace pensions and re-enrolment. Once your scheme is set up you have a list of on-going tasks. Find out more here: https://lnkd.in/eY2zJ4Qr #outsourcepayroll #payrollsupport #employingpeople

'More than two-thirds (69%) of employees do not want to choose their workplace pension provider and would rather their employer make the choice, according to new research from the Pensions and Lifetime Savings Association (PLSA).' Probably best, as long as the employer receives the right advice. Aspira can help. #autoenrolment #workplacepension #pensionplanning

➡️Key update for employers - changes to automatic pension enrolment: The Pensions (Extension of Automatic Enrolment) Act 2023, recently passed by Parliament, is set to bring about some substantial alterations. Here's a breakdown of the key points: 🔵 Lowered Age Threshold: The age at which employees are automatically enrolled in pension schemes is set to decrease from 22 to 18 years old. This means that a broader section of your workforce will now be eligible for automatic enrollment. 🔵 Elimination of Earnings Limit: The previously mandated minimum earnings threshold, which required employees to earn at least £192 per week or £833 per month for automatic enrollment, will be removed. This will make pension enrollment more accessible to a wider range of employees. Read our full article and guidance on the changes here: https://lnkd.in/ebTeuUJh #pensions #payrollsupport

Check out EA Assist's guide on re-enrolment for workplace pensions. As employers, navigating the complexities of pension schemes can be daunting, especially when it comes to re-enrolling eligible employees. In this blog post, we break down the re-enrolment process, offering practical tips and guidance to ensure compliance with pension regulations and seamless implementation for your workforce. ✍️Let us help you to fulfill your pension duties with confidence and ease. 👉https://lnkd.in/eY2zJ4Qr

It is National Pension Awareness Week! 🤑 This week is about educating ourselves and our employees on the benefits of having a pension and understanding why it is so important to save for later in life 💰 Read the article below for tips on how to help your employees engage with their pensions  🔽 https://lnkd.in/ehP7m_Vq #pension #finance #nationalpensionawarenessweek #financialadvice

As the rules around the proposed Auto Enrolment scheme are being clarified, questions are being raised about the lack of flexibility that employees' will have. Because of this, we are finding that a lot of employers that we meet with are considering offering an alternative structure that may be more beneficial and adaptable to their employees needs. If you need advice on pensions or setting up a scheme for your company, give us a call on 0818 60 65 70 https://lnkd.in/eHnaDYZj

The focus on Auto Enrolment is intensifying, signaling a pivotal shift in the landscape of workplace pensions. Whether you're an employee wondering how this affects your future savings, or an employer contemplating the implications for your business, understanding Auto Enrolment is now more crucial than ever. Contact us at Alpha Wealth to explore how Auto Enrolment impacts you and uncover the advantages of proactive participation. Stay ahead of the curve and ensure you're fully prepared for the changes Auto Enrolment brings. #pensions #autoenrolment #businessowner

Last month the Chancellor announced intentions to reform workplace pensions by introducing a ‘Pot for Life’. This article from Cushon discusses what these plans might mean for employers and the future of workplace pensions: https://lnkd.in/eSCjQPXt #pensions #potforlife #savingforretirement #employeebenefits #financialresilience #savings

New group comprised of government and pension industry representatives to look at helping savers track their pensions. Deferred small pots are small pension pots left inactive, often from a previous job, and typically contain small amounts of money. The successful introduction of Automatic Enrolment in 2012 brought millions of workers into workplace pension saving, often for the first time. In 2022 for example, employees across the UK saved £116 billion into their pensions - a real-terms increase of £29 billion compared to 2012. However, with this has come rapid growth in the number of deferred small pots. #Pensions