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By February, 2018 every employer, with at least one member of staff, will be required by law to provide a workplace pension, as long as their employees meet the qualifying criteria. Many people have assumed, mistakenly, that this is directed toward small business owners and their employees rather than the individual. In reality the new law means that people who employ a children’s nanny, gardener, carer, housekeeper or any other form of assistant, will have to provide a workplace pension and also make contributions as the employer.
This is not a new decision by any means and the Government have been employing various methods, including TV advertising, to let everyone know exactly what will take place and the steps they should take to ensure they comply with the regulations. However, many people remain unclear about exactly what this means for both the employer and the employee.
The Government have provided an online guide that has been written specifically for employers with between one and 50 staff, many of whom will have limited pensions experience. The guide provides all relevant information in simple terms, for example:
As the Employer you must enrol your staff and make an employer’s contribution for everyone who:
The above information is by no means a comprehensive guide, but it will have provided a few key points to help you to understand the requirements of this regulation. If you require additional information, it can be found on the Government Website here: http://www.workplacepensions.gov.uk/
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