Auto Enrolment: Key Points

Department: 
Membership
Governance: 
Financial issues
Auto-enrolment is being phased in from October 2012 and will start with firms employing more than 120,000 workers. The new rules require careful consideration.

Auto-Enrolment: Key Points

  • Workers must be aged between 22 years and the State Pension Age, working or ordinarily working in the UK, and not already in a qualifying pension scheme
  • In addition, employees must be earning at least £8,105 a year (2012/2013)
  • Minimum employer and employee contributions will be based on 'qualifying earnings' between £5,564 and £42,475 (2012/2013)
  • Employees can choose to 'opt out' of the scheme
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