| |
The fact that many people are reluctant to voluntarily
contribute towards their own pension arrangements has
led the present Government to act. Automatic enrolment,
under the arrangements recently re-branded as National
Employment Savings Trust (NEST) is being introduced
from October 2012 to provide a “new way to save”.
On introduction employers and employees (aged between
22 and state pension age) will be required to contribute
to either NEST or to a recognised alternate employer
sponsored pension arrangement. Employees will be able
to opt out of the scheme and effectively not contribute,
but if they do so, they will need to be reintroduced
to the scheme every three years by their employer.
As an employer you STILL have the right to choose the
most appropriate arrangement for your employees.
We at Plumbing Pensions pride ourselves in the knowledge
that we operate one of the largest industry-wide pension
schemes within the UK, offering members a defined pension
benefit on retirement with the option to “give
up” up to 25% of the pension value in return for
a lump sum payment, all or part of which will be tax
free. As well as pension benefits on retirement we also
offer comprehensive death cover.
Membership of the Scheme is open to all company employees
with basic contribution levels at 3.75% of gross earnings
for employees and 7.5% for employers. In real terms
the net contribution levels are considerably less due
to National Insurance savings and tax relief on paid
contributions.
As the time is fast approaching to make decisions we
would welcome the opportunity to meet with you to discuss
the Industry Pension Scheme in full and answer any questions
that you may have.
Please contact our Pensions Officer, Stuart McDonald
by telephone on 0131 225 2255 or by
email. He will then arrange a convenient time to
meet with you to discuss the legislative changes that
are proposed.
>
Request an Information Pack
>
Contact us
|
