Meet Workie – Introducing Pensions & Auto-enrolment
Meet Workie your friendly auto-enrolment reminder. Since being introduced in 2012, 5.4 million workers have signed up to a workplace pension as part of the auto-enrolment scheme, with millions of employees still to sign up.
Auto-enrolment staging dates have seen the larger companies (from 50 to 249 people employees) initially test the water with employees signing up to approved pension schemes, or having the option to opt out. Now staging dates for small and micro employers (50 employers or fewer) are upon us, and Workie is here to let everyone know.
Designed to be the friendly face of auto-enrolment, there is a serious message behind Workie – encouraging workers to prepare for their futures by investing in a pension – following the news that 2 years ago 68% of private workers did not have a pension.
The assumption that paying national insurance will cover your pension needs through a national pension, and allow you the lifestyle you may wish to live in retirement, is not one anyone should make. Many people currently aim for £14,000 (based on two thirds of the annual wage) per year pension, but this may not be achievable based on the current set payment levels or indeed reflect the lifestyle you wish to live.
With this in mind, you may wish to investigate your pension options – as an employer or as a private individual, with one of our team. We have expertise on guiding SMEs – providing pension planning advice and setting up appropriate arrangements where required.
If you are an employer and need guidance to make sure you are meeting all your legal requirements to your employees for auto-enrolment, why not get in touch today, our team are here to help – call 01743 462604.