PENSION AUTO ENROLMENT – Nanny pensions apply!
December 16th, 2016
If your nanny is aged between 22 and the State Pension Age, and has gross earnings of more than £10,000 per annum, follow the link to the Pensions Regulator and work your way through each section.
If the nanny is under 22 and/or earns less than £10,000 per annum, employers should still complete Steps 1, 3, 4 & 5, and continue to monitor any changes that indicate that the nanny has become eligible to be auto enrolled into a pension scheme.
http://www.thepensionsregulator.gov.uk/en/employers
- Employers need to confirm with the Pensions Regulator who they should contact (Primary and Secondary Nominees).
- Six months before the staging date, employers need to make sure they have in place a pension scheme that can be used for automatic enrolment.
- On the staging date, employers’ need to identify who to put into the pension.
- Within 6 weeks of the staging date, employers need to write to their staff to tell them how automatic enrolment applies to them.
- Within 5 months of the staging date, employers need to inform the Pensions Regulator that they have met their legal duties by completing a declaration of compliance.
Apart from completing steps 1 & 2 and depending on the circumstances, clients may be able to nominate their payroll provider as Secondary Contacts to carry out the administration of the remaining steps.
Pension Costs From staging date to 30th September 2017:
- Employer Contributions 1% and Employee 1% 1st October 2017 to 30th September 2018:
- Employer Contributions 2% and Employee Contributions 3% 1st October 2018:
- Employer Contributions 3% and Employee Contributions 5%