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Sport Governance Conference In Partnership with the Legal Panel Framework

Cynhadledd Llywodraethu Chwaraeon Mewn Partneriaeth â’r Fframwaith Panel Cyfreithiol. Sport Governance Conference In Partnership with the Legal Panel Framework. LEGAL WORKSHOPS GWEITHDAI CYFREITHIOL. Pensions / Auto-Enrolment and Contracts Pensiynau / Cofrestru Awtomatig a Chontractau.

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Sport Governance Conference In Partnership with the Legal Panel Framework

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  1. Cynhadledd Llywodraethu Chwaraeon Mewn Partneriaeth â’r Fframwaith Panel Cyfreithiol Sport Governance Conference In Partnership with the Legal Panel Framework LEGAL WORKSHOPS GWEITHDAI CYFREITHIOL Pensions / Auto-Enrolment and Contracts Pensiynau / Cofrestru Awtomatig a Chontractau Michael Collins (Gateley Solicitors)

  2. Michael Collins 28 October 2013

  3. Pensions, Auto Enrolmentand Contracts

  4. Pensions, Auto Enrolmentand Contracts • Pensions in 2013 • State • Private – personal/occupational • Employer’s obligations • Contracts of employment

  5. Pensions, Auto Enrolmentand Contracts

  6. 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

  7. 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

  8. Pensions, Auto Enrolmentand Contracts • Qualifying 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)

  9. Pensions, Auto Enrolmentand Contracts • Who 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

  10. Pensions, Auto Enrolmentand Contracts • When 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

  11. Pensions, Auto Enrolmentand Contracts • Choice of scheme: • existing scheme? • new scheme? Eg NEST • combination? • must meet quality criteria: • defined benefit • defined contribution

  12. Pensions, Auto Enrolmentand Contracts • Quality 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

  13. Pensions, Auto Enrolmentand Contracts • Employment protection measures • prohibited recruitment conduct • inducements • right not to suffer detriment

  14. Pensions, Auto Enrolmentand Contracts • Enforcement: • Pensions Regulator • compliance notices • penalties: fixed and escalating

  15. Pensions, Auto Enrolmentand Contracts • Preparation • 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

  16. Questions

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