Compulsory Pension if Earn GBP7 500
Published / Last Updated on 26/10/2010
Compulsory Pension if Earn £7,500
by Ashley Clark, Director
The Government review into company pension schemeshas confirmed that all employees who earn £7,500 or more will be automatically enrolled in their Employers Company Pension Scheme from 2012.
Originally, under previous Labour penion rules, a new NEST National Employment Savings Trust would start where employees either joined their company scheme if earning over £5,035pa.
There has also been proposed a new wiating time of 3 months so that employers are not burdened with setting up people in pensions who then leave early as they are not suitable.
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