Automatic Enrolment at Heriot-Watt University (UK Campuses only)
Background
To help people save more for their retirement, the government now requires employers to enrol their eligible workers into a workplace pension scheme if they are not already in one. Eligible workers are those who earn over a minimum amount (currently £787 per month) and are between the age of 22 and state pension age. All employers are given a date when they need to enrol their workers into a workplace pension scheme and for Heriot-Watt University, automatic enrolment will take place from July 2013.
What does it mean for Heriot-Watt staff?
If you are currently an active member of one of the University’s pension schemes, you will be informed about automatic enrolment but no further action is needed as you are already in a qualifying pension scheme.
If you do not currently pay into a pension scheme, the University will be required, by law, to enrol you into a pension scheme, depending on age and earnings criteria. Any member of staff, once automatically enrolled, can opt out of the scheme if they wish, but every three years employers are required to re-enrol all eligible staff who are not members of a workplace pension scheme. Casual staff who meet the age and earnings criteria will also be automatically enrolled. Staff who do not meet the age and earnings criteria can still opt to join a pension scheme.
The University’s pension schemes open to staff are currently LGPS (for grades 1-5) and USS (for grades 6-10). A NEST scheme is also available to staff who do not meet the qualifying criteria for enrolment into LGPS or USS.
Do you meet the criteria?
See also:
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