SME Support Forum Northern Ireland
Helping to provide guidance and support toNorthern Ireland's SME Sector
We examine 2 scenarios here which demonstrate how a type of pension fund called a Small Self-Administered Scheme (SSAS) can become a powerful facilitator for the owner-managed business.
If you think you may not be able to make your pension contributions, contact your adviser and/or provider in the first instance to explore whether there is flexibility to change the due date for payment of employer contributions to a future date or, whether they may be able to help you plan to pay contributions …
Continue reading "What if I am struggling to make pension contributions?"
The answer is yes:• The obligation for you and your members of staff to make contributions is set out in your pension scheme’s rules or other governing documentation.• Your staff may choose to either reduce their contribution level (if the scheme rules allow this) or opt out or cease active membership of the scheme if …
No. The Department for Work and Pensions (DWP) has confirmed that employer duties and (including the payment of pension contributions required under automatic enrolment) will not be suspended during the corona virus crisis, although it plans to keep the situation under review as the crisis develops. This means that employers should continue to pay their …
Continue reading "Pensions: Have auto-enrolment duties/contributions been suspended?"
AE duties continue to apply as normal, including re-enrolment and re-declaration duties. AE duties apply to staff furloughed as part of the Corona virus Job Retention Scheme as well as those still working. Postponement can be used to postpone the duty to assess new or newly eligible staff. This effectively defers the need to make pension contributions for up to …
No. Minimum contributions required under automatic enrolment have not been suspended, so employers should continue to pay their own and forward their employees’ contributions to their scheme provider in the normal way. The Pensions Act 2008 includes safeguarding rules to protect employees from being taken out of a qualifying pension scheme unless they make that …
The maximum grant will be calculated per employee and is the lower of 80% of an employee’s regular wage and £2,500 per month plus ...
SME Support Forum Northern Ireland 