Question asked by Marie Hughes 10 years ago
Hi, can anyone help please? I do book-keeping for a very small firm. Three people already have pensions, and want to stick with these, we already contribute above the minimum amount. These pensions DO NOT qualify for auto-enrolment. I was going to use NEST, then let them opt-out, but would payments actually be taken? Is there an easy way to auto-enrol them all, and then they opt out? They want to stay with their existing providers!
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Hi Shirley
This will be more one for your accountant rather than this particular forum (btw if you ever want any business support in general you'll find this place pretty helpful http://www.ukbusinessforums.co.uk/)
Re AE: the opting out info can be found here http://www.thepensionsregulator.gov.uk/employers/opting-out.aspx - none of my clients have reached their staging dates yet but as far as I know the employees have to be enrolled (and presumably a deduction made) in order for them to opt out. You then refund them their first contribution with the provider in turn refunding the employer.
Fun times ahead....
Best answerThat's my take on it at the moment but i'll be the first to admit my AE knowledge isn't quite 100% just yet so please do a bit of digging yourself first before taking my word for it!
Thanks Kevin, I saw this one, but couldn't fathom if the initial auto-enrolment actually meant making the first payment!! If we could auto-enrol then opt out before making a payment it would be so easy. All our employees have their own private schemes which they wish to keep!!!!!!!!!!!! Aaaaaaargh
Yup, there are going to be lots of refund requests and dormant schemes. One can only wonder how long it'll be before the providers start charging for such scenarios.
The Pensions Regulator website is really good, the start point is here http://www.thepensionsregulator.gov.uk/automatic-enrolment.aspx
Thanks,.............. that seems ludicrous! :-0 Thanks for the link too!
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