Ltd company - pension

(8 Posts)
Agrestic Fri 16-Sep-16 18:42:35

I've been employed by a small ltd company for around 6 months now. Am i supposed to get a pension?

Asked some colleges who do not pay in to one either - they said the company was exempt as it was small - around 10 employees.

Is this the case?

healthyheart Fri 16-Sep-16 19:21:17

Automatic enrolment for pensions applies to all employers who employ at least one member of staff. It is currently being brought in over the next few months.

Agrestic Fri 16-Sep-16 19:23:45

So just a waiting game?

Thanks heart

user1471596444 Fri 16-Sep-16 19:32:39

Enrolment for small companies is happening over the coming months, my company has to comply by February 2017. Bear in mind though that you also are expected to contribute it's not just the company that pays in.

Lonecatwithkitten Fri 16-Sep-16 20:20:29

The very last staging date is 01/02/18, but this is mostly for new employers. Most existing employers have to comply by 01/02/17. Having just done it for my staff there is behind the scenes stuff that goes on for months then there was a meeting staff on Wednesday and their first payment will be the end of October.
Remember it is highly likely that you will need to contribute too.

healthyheart Fri 16-Sep-16 20:43:01

Yes employee contributes 1% of gross monthly pay and employer the same. After a year or so the contributions increase. So very approximately, someone earning around £20k will have around £30 per month paid into a pension fund ( employee + employer contributions ) increasing over time.

healthyheart Fri 16-Sep-16 20:43:49

Ask your employer what their staging date is.

Agrestic Fri 16-Sep-16 22:19:28

Thanks everyone.

Yes I totally expect to contribute as I have done before. I previously worked for a very large company (10,000+ employees) who obviously had to put things into place a lot sooner.

I'll have a chat to see if they have a time frame.

Thanks again!

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