Hugh Lambert No Comments

An article in The Irish Times recently stated that company directors who are not paying into a payroll-deducted company pension scheme will be auto-enrolled into the government scheme in the New Year.

The simple way to avoid this is to set up a company pension scheme and payroll deduction for yourself through your company.

If you’re paying 40% tax, then you can avoid this, and it will be more advantageous.

Other developments have been that employees who pay into a payroll-deducted pension scheme will not qualify for auto-enrolment, even if there isn’t an employer contribution to the scheme.

Having spoken to both employees and employers about this, employees are more than happy to stop paying into the company pension scheme and to start to pay into an auto-enrolment scheme.

To avoid the duplication of the schemes, the additional work employers have agreed to just pay the employer contribution into the existing scheme.

It’s also prompted a review of the existing scheme to determine whether it is currently the best value for employees.

If Auto Enrolment is something you’re thinking about and you feel you need some answers, feel free to get in touch and start a conversation💬

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