Showing posts with label Workplace Pensions. Show all posts
Showing posts with label Workplace Pensions. Show all posts
Thursday, 12 November 2015
Monday, 9 March 2015
Workplace Pensions
You could soon have a pension without asking for one!
Millions of workers are being automatically enrolled into a workplace pension by their employer. A workplace pension is a way of saving for your retirement that’s arranged by your employer.
A percentage of your pay is put into the pension scheme automatically every payday.
In most cases, your employer and the Government also contribute money into the pension scheme for you. The money is used to pay you an income for the rest of your life when you start getting the pension.
You can opt out if you want to, but that means losing out on employer and government contributions – and if you stay in, you’ll have your own pension that you get when you retire.
‘Auto-enrolment’
New legal duties, from October 2012, now require employers to automatically enrol their eligible employees into a qualifying pension scheme. The reform will be ‘staged’ over a six-year period, depending on the size of the employer.
The new law means that every employer must automatically enrol workers into a workplace pension scheme who:
• Are not already in one
• Are aged between 22 and State Pension age
• Earn more than £9,440 a year
• Work in the UK
This is called ‘automatic enrolment’. You may not see any changes if you’re already in a workplace pension scheme. Your workplace pension scheme will usually carry on as normal.
But if your employer doesn’t make a contribution to your pension now, they will have to by law when they ‘automatically enrol’ every worker.
If you are an employer, you need to make sure that your business is prepared as workplace pension reform becomes applicable to you.
When it comes to making contributions, there are two main things to consider, namely:
• The level of contributions you wish to make
• The definition of pay you wish to use
Both you and your employees will be required to pay money into the pension, subject to certain minimums, as shown in the information below.
Oct 2012 to Sept 2017 – EMPLOYER: 1% EMPLOYEE 1 %
Oct 2017 to Sept 2018 – EMPLOYER: 2% EMPLOYEE 3%
Oct 2018 onwards – EMPLOYER: 3% EMPLOYEE 5%
These are only minimum amounts and you can choose to pay more than this.
You can even pay some or all of your employee’s contribution, if you wish to do so.
Information is based on our current understanding of taxation legislation and regulations. Any levels and bases of and reliefs from taxation are subject to change. Tax treatment is based on individual circumstances and may be subject to change in the future. Although endeavours have been made to provide accurate and timely information, Professional Practice Services cannot guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No individual or company should act upon such information without receiving appropriate professional advice after a thorough review of their particular situation. We cannot accept responsibility for any loss as a result of acts or omissions.
Professional financial advice you can trust
Auto-enrolment affects all employers in the UK. With auto-enrolment underway, employers must now automatically enrol eligible employees into a qualifying pension scheme. Whether you are an employee or employer, we can help guide you through your pension options. To find out more, please contact us.
Call our friendly, knowledgeable team for a confidential, no obligation discussion:
01527 880345
Visit our Website at:
www.pps-vet.co.uk
Professional Practice Services is a Veterinary Business Consultancy and Independent Financial Advisory Firm. Professional Practice Services is authorised and regulated by the Financial Conduct Authority
The Financial Conduct Authority does not regulate finance, will writing, commercial lending, taxation or trust advice.
Article Reference: PPS062014.GM24
Millions of workers are being automatically enrolled into a workplace pension by their employer. A workplace pension is a way of saving for your retirement that’s arranged by your employer.
A percentage of your pay is put into the pension scheme automatically every payday.
In most cases, your employer and the Government also contribute money into the pension scheme for you. The money is used to pay you an income for the rest of your life when you start getting the pension.
You can opt out if you want to, but that means losing out on employer and government contributions – and if you stay in, you’ll have your own pension that you get when you retire.
‘Auto-enrolment’
New legal duties, from October 2012, now require employers to automatically enrol their eligible employees into a qualifying pension scheme. The reform will be ‘staged’ over a six-year period, depending on the size of the employer.
The new law means that every employer must automatically enrol workers into a workplace pension scheme who:
• Are not already in one
• Are aged between 22 and State Pension age
• Earn more than £9,440 a year
• Work in the UK
This is called ‘automatic enrolment’. You may not see any changes if you’re already in a workplace pension scheme. Your workplace pension scheme will usually carry on as normal.
But if your employer doesn’t make a contribution to your pension now, they will have to by law when they ‘automatically enrol’ every worker.
If you are an employer, you need to make sure that your business is prepared as workplace pension reform becomes applicable to you.
When it comes to making contributions, there are two main things to consider, namely:
• The level of contributions you wish to make
• The definition of pay you wish to use
Both you and your employees will be required to pay money into the pension, subject to certain minimums, as shown in the information below.
Oct 2012 to Sept 2017 – EMPLOYER: 1% EMPLOYEE 1 %
Oct 2017 to Sept 2018 – EMPLOYER: 2% EMPLOYEE 3%
Oct 2018 onwards – EMPLOYER: 3% EMPLOYEE 5%
These are only minimum amounts and you can choose to pay more than this.
You can even pay some or all of your employee’s contribution, if you wish to do so.
Information is based on our current understanding of taxation legislation and regulations. Any levels and bases of and reliefs from taxation are subject to change. Tax treatment is based on individual circumstances and may be subject to change in the future. Although endeavours have been made to provide accurate and timely information, Professional Practice Services cannot guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No individual or company should act upon such information without receiving appropriate professional advice after a thorough review of their particular situation. We cannot accept responsibility for any loss as a result of acts or omissions.
Professional financial advice you can trust
Auto-enrolment affects all employers in the UK. With auto-enrolment underway, employers must now automatically enrol eligible employees into a qualifying pension scheme. Whether you are an employee or employer, we can help guide you through your pension options. To find out more, please contact us.
Call our friendly, knowledgeable team for a confidential, no obligation discussion:
01527 880345
Visit our Website at:
www.pps-vet.co.uk
Professional Practice Services is a Veterinary Business Consultancy and Independent Financial Advisory Firm. Professional Practice Services is authorised and regulated by the Financial Conduct Authority
The Financial Conduct Authority does not regulate finance, will writing, commercial lending, taxation or trust advice.
Article Reference: PPS062014.GM24
Friday, 10 October 2014
Professional Practice Services at London Vet Show 2014 - Stand A21
Practice Makes Perfect!
Find
out how we can help you and your practice realise your true potential. Come and
speak with the PPS Partners at London Vet Show Stand A21, Olympia Grand, 20-21
November 2014
Established in 1998, PPS now represents more
than 2,500 veterinary practices and veterinary practitioners across the UK. We take
pride in our reputation as Financial Services specialists to the Veterinary
sector and value the strong long-term relationships we forge with clients.
As proud
supporters, Professional Practice Services are back again for the two day event
in November, bringing with us a host of information and resources to help you
take back control of your financial future.
Dr
Paul Jackson, Partner, said 'PPS is the only Financial Services specialist in the UK working
exclusively for the Veterinary sector. We model ourselves on being an extension
of your business and an integral strategic partner helping you to achieve your
life goals – ultimately our success is dependent on yours.'
Visit our stand for an informal, no
obligation chat on anything financial including:
·
Retirement/Succession
Planning
·
Practice
Finance· Partnership/Share Protection
· Tax Planning
· Investment/Pension and Wealth Management
· Family Protection
· Income Protection
· Estate Planning
· Mortgages
·
Employee
Benefits
·
Workplace
Pensions & Auto-Enrolment· Business Consultancy
Alternatively
do let us know if you would like a more in depth conversation as we are
offering 1-2-1 meetings throughout the Show with Amira, David, and Paul.
Visit Stand A21 to enter our prize
draw to win a luxury hamper just in time for the festive season and as always
we'll have our ever popular fuzzy bugs and goodies to help yourself to!
Call our friendly, knowledgeable team from a
confidential, no obligation discussion:
01527 880 345
enquiries@pps-vet.co.uk
Visit our Website at:
www.pps-vet.co.uk
We'll
also be tweeting throughout the show from @ppsvet
Professional
Practice Services is authorised and regulated by the Financial
Conduct Authority.
The Financial Conduct Authority does not regulate finance, will writing, commercial lending, taxation or trust advice
Thursday, 27 March 2014
BSAVA Congress 2014
Professional Practice Services and PPS GI are pleased to confirm we will be exhibiting again this year at the BSAVA Annual Congress held at The ICC and NIA, Birmingham from 3rd-6th April 2014.
Please do come and visit us at Stand 410 for an informal chat about your Practice needs.
Alternatively do let us know if you would like a more in depth conversation as we are offering 1-2-1 meetings throughout Congress.
Your Success is Our Business
The PPS Group provide personal expert financial advice and consultancy services exclusively to the veterinary profession. We've been providing successful financial solutions since 1997. Our team of experienced and knowledgeable staff can guide you through a sometimes unexpected financial minefield.
With personal visits to your practice, no call centres or push button phones, you can speak directly to the people who matter.
Financial Services through Professional Practice Services
- Independent Financial Advice for Practice Owners and Staff
- Retirement/Succession Planning
- Practice Finance
- Business Protection
- Partnership/Share Protection
- Investment/Pension and Wealth Management
- Family Protection
- Income Protection
- Mortgages
- Employee Benefits
- Workplace Pensions
- Business Consultancy
General Insurance through PPS GI
- Market Leading Surgery Insurance
- Locum & Group Personal Accident Insurance
- Private Medical Insurance
- Motor Fleet & Home Insurance
- Veterinary Professional Indemnity Insurance
- Equipment Financing
Call our friendly, knowedgeable team from a confidential, no obligation discussion:
01527 880345
Or for General Insurance enquiries please call:
01527 832394
Visit our Website at:
The PPS Group relates to Professional Practice Services, our Business Consultancy and Independent Financial Advisory arm, and PPS GI, our specialist insurance brokerage.
PPS Group is a trading name of Professional Practice Services which is authorised and regulated by the Financial Conduct Authority. PPS GI is an appointed representative of Professional Practice Services, which is authorised and regulated by the Financial Conduct Authority.
The Financial Conduct Authority does not regulate finance, will writing, commercial lending, taxation or trust advice
Tuesday, 22 October 2013
PPS Group at the London Vet Show 2013
Professional Practice Services and PPS GI are pleased to confirm we will be exhibiting again this year at the London Vet Show held at Olympia, London on 21st and 22nd November 2013.
Please do come and visit us at Stand A31 for an informal chat about your Practice needs.
Alternatively do let us know if you would like a more in depth conversation as we are offering 1-2-1 meetings throughout the Show with Amira, David, Laura and Paul.
Your Success is Our Business
The PPS Group provide personal expert financial advice and consultancy services exclusively to the veterinary profession. We've been providing successful financial solutions since 1997. Our team of experienced and knowledgeable staff can guide you through a sometimes unexpected financial minefield.
With personal visits to your practice, no call centres or push button phones, you can speak directly to the people who matter.
Financial Services through Professional Practice Services
- Independent Financial Advice for Practice Owners and Staff
- Practice Finance
- Consultancy Services
- Business Protection
- Employee Benefits and Workplace Pensions
General Insurance through PPS GI
- Market Leading Surgery Insurance
- Locum & Group Personal Accident Insurance
- Private Medical Insurance
- Motor Fleet & Home Insurance
- Veterinary Professional Indemnity Insurance
- Equipment Financing
Call our friendly, knowledgeable team from a confidential, no obligation discussion:
01527 880345
Or for general insurance enquiries please call:
01527 832394
Visit our Website at:
The PPS Group relates to Professional Practice Services, our Business Consultancy and Independent Financial Advisory arm, and PPS GI, our specialist insurance brokerage.
PPS Group is a trading name of Professional Practice Services which is authorised and regulated by the Financial Conduct Authority. PPS GI is an appointed representative of Professional Practice Services, which is authorised and regulated by the Financial Conduct Authority.
The Financial Conduct Authority does not regulate finance, will writing, commercial lending, taxation or trust advice
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