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Auto Enrolment Guidance

Professional Passport has just released their Contractors Guide to the new Pensions Auto Enrolment Requirements.

The guide looks at the situation for contractors who operate through either an Umbrella Company or through their own limited company.

The Contractors Guide To Pensions Auto Enrolment

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In October 2012 a requirement for employers to automatically enrol their
employees in to a qualifying pension scheme came in to effect.

The introduction of these new rules is being phased in across employers taking the largest employers first and working through until all employers will have the same obligations to enrol their employees by 2017.

Employers have a requirement to make contributions on behalf of their employees who are eligible for auto enrolment. Employees that are eligible workers for the purposes of auto enrolment will be:

  • aged between 22 and the State Pension Age
  • not already active members of a qualifying pension scheme
  • earning over £8,105 gross per annum [this figure will change annually]

If a worker falls outside of these criteria they could still have the option to join if they request it although the rules and obligations differ from those applied under auto enrolment. As the vast majority of contractors will meet the eligible worker definition the guide will focus on this aspect.

Contractors could find that they too are affected by these new rules.

If a contractor uses the services an umbrella provider they are likely to be caught.

If a contractor operates through their own limited company with more than one employee then they are likely to be caught.

The rules require employers to automatically enrol eligible workers however once enrolled a worker can then opt out if they wish.

The guide will explain each of these scenarios from a contractor’s perspective.

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