Pension Reform
leonag
Registered Posts: 46 Regular contributor ⭐
I've had 2 clients in the last couple of days asking me about what pension reform means for them, I am intending to book on the pension reform CPD course, but that's not for another month. So I was wondering if anyone can help me.
Client 1: A small engineering company with 1 employee, plus the owner. If I'm right the reform doesn't apply to him until minimum June 2015, is this right? Also the employee earns more than £42000, this makes him an eligible job holder, what is the significance of the £42,475 figure? If the employee has his own personal pension will the employer still need to contribute.
Client 2: Self employed sole trader, he's heard that the government is also going to be rolling out a compulsory contribution to a national pension scheme by all self employed people.
Any help greatly appreciated.
Client 1: A small engineering company with 1 employee, plus the owner. If I'm right the reform doesn't apply to him until minimum June 2015, is this right? Also the employee earns more than £42000, this makes him an eligible job holder, what is the significance of the £42,475 figure? If the employee has his own personal pension will the employer still need to contribute.
Client 2: Self employed sole trader, he's heard that the government is also going to be rolling out a compulsory contribution to a national pension scheme by all self employed people.
Any help greatly appreciated.
0
Comments
-
Does this help?
http://www.thepensionsregulator.gov.uk/employers/7-steps.aspx#s4671
I've found this on the NEST website;
Self-employed
Self-employed people and single person directors will be able to join NEST.
If you're self-employed or a single person director the new duties under the Pensions Act 2008 don’t apply to you, but you’ll still be able to join NEST as an individual member.0
Categories
- All Categories
- 1.2K Books to buy and sell
- 2.3K General discussion
- 12.5K For AAT students
- 323 NEW! Qualifications 2022
- 165 General Qualifications 2022 discussion
- 11 AAT Level 2 Certificate in Accounting
- 56 AAT Level 3 Diploma in Accounting
- 88 AAT Level 4 Diploma in Professional Accounting
- 8.8K For accounting professionals
- 23 coronavirus (Covid-19)
- 272 VAT
- 92 Software
- 273 Tax
- 135 Bookkeeping
- 7.2K General accounting discussion
- 200 AAT member discussion
- 3.8K For everyone
- 38 AAT news and announcements
- 345 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 582 Job postings
- 16 Who can benefit from AAT?
- 36 Where can AAT take me?
- 42 Getting started with AAT
- 26 Finding an AAT training provider
- 48 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 66 AAT membership