Sport Governance Conference In Partnership with the Legal Panel Framework Cynhadledd Llywodraethu...
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Transcript of Sport Governance Conference In Partnership with the Legal Panel Framework Cynhadledd Llywodraethu...
Sport Governance Conference
In Partnership with the Legal Panel Framework
Cynhadledd Llywodraethu Chwaraeon
Mewn Partneriaeth â’r Fframwaith Panel Cyfreithiol
LEGAL WORKSHOPS
GWEITHDAI CYFREITHIOL
Pensions / Auto-Enrolment and Contracts
Pensiynau / Cofrestru Awtomatig a Chontractau
Michael Collins (Gateley Solicitors)
Michael Collins
28 October 2013
Pensions, Auto Enrolmentand Contracts
Pensions, Auto Enrolmentand Contracts• Pensions in 2013• State• Private – personal/occupational
• Employer’s obligations
• Contracts of employment
Pensions, Auto Enrolmentand Contracts
Pensions, Auto Enrolmentand Contracts• Auto Enrolment• What is it?• Staging dates: 2012 – 2018
- from 1/11/13 500+ employees- spikes in 2014
• Employer’s obligations• Who needs to be enrolled?• Choice of scheme
Pensions, Auto Enrolmentand Contracts• “workers”
• “jobholders”- workers
- ordinarily work in UK
- at least 16 and under 75
- paid “qualifying earnings” in relevant pay reference period
Pensions, Auto Enrolmentand ContractsQualifying earnings:
• annual earnings between £5,668 and £41,450 (2013/14 tax year)
• “earnings” includes salary, commission, bonus and overtime;
• pro rata calculation for each pay reference period (eg monthly)
Pensions, Auto Enrolmentand ContractsWho needs to be auto-enrolled?• “eligible jobholders” – have to be auto-enrolled:
- earnings exceed earnings trigger (£8,105 in 2013/14)- aged between 22 and SPA
• “non-eligible jobholders” – can join if they want:- earn qualifying earnings but don’t meet above criteria
• “entitled workers” – can join but get no employer contributions:- not a jobholder
Pensions, Auto Enrolmentand ContractsWhen must eligible jobholders be
enrolled?• with effect from date meet criteria if not
already in qualifying scheme• postponement• opt-outs• automatic re-enrolment every three
years
Pensions, Auto Enrolmentand ContractsChoice of scheme:
• existing scheme?
• new scheme? Eg NEST
• combination?
• must meet quality criteria:- defined benefit
- defined contribution
Pensions, Auto Enrolmentand ContractsQuality requirement – defined contribution
Employer contribution Total contribution
Until 30/9/17 1% 2%
1/10/17 to 30/9/18 2% 5%
From 1/10/18 3% 8%
• Based on “qualifying earnings”• Alternatives
Pensions, Auto Enrolmentand ContractsEmployment protection measures
• prohibited recruitment conduct
• inducements
• right not to suffer detriment
Pensions, Auto Enrolmentand ContractsEnforcement:
• Pensions Regulator- compliance notices
- penalties: fixed and escalating
Pensions, Auto Enrolmentand ContractsPreparation• identify your staging date• plan well in advance• assess your workforce• speak to pensions consultants and payroll providers• consider issues for high earners• regulator guidance
Questions