bannerImage.png

Beyond the balance sheet

What you need to know about auto enrolment qualifying earnings

Jasmine Brook 07/7/2014 1 minute read

An infographic to help you determine the members of your workforce who qualify for auto enrolment, by Jasmine Brook.

Following our previous blog post on what auto enrolment means for your business, you may now be wondering which members of your workforce classify under auto enrolment qualifying earnings? This actually only applies to certain personnel and it's determined by their salary and age. To further complicate matters, some of your employees will not qualify but have the right to enrol. Confused?

To start with you need to assess your entire workforce on your staging date (the date when you need to be ready to automatically enrol your eligible employees into a satisfactory pension plan, click on the link to find out when yours is).

Then you will then have to continually:

  • Monitor your workforce details so that when they earn enough or reach a sufficient age, they will be enrolled
  • Assess which new employees should be enrolled on the date they start employment

As you can see the onus is firmly on the employer to get this right and stay compliant so you may find the below infographic particularly useful for understanding who in your organisation is eligible.

auto enrolment

New Call-to-action

The content of this post is up to date and relevant as at 07/07/2014.

Please be aware that information provided by this blog is subject to regular legal and regulatory change. We recommend that you do not take any information held within our website or guides (eBooks) as a definitive guide to the law on the relevant matter being discussed. We suggest your course of action should be to seek legal or professional advice where necessary rather than relying on the content supplied by the author(s) of this blog.

 

leave a comment -

Popular posts

What should my management accounts look like?
How to understand the different types of shares & class of shares
Payment on account - what it is & how to pay your tax bill