Exemptions
As an employer you are exempt from the requirement to provide
access to a stakeholder pension scheme, if you meet one of the
conditions below. However you can still give your employees
access to a stakeholder scheme if you want to.
- You employ fewer than 5 people, or 5 or more with none
earning in excess of the lower earnings limit
- You offer an occupational pension scheme that all your
staff can join within a year of starting to work for you,
excluding employees under 18 and employees within 5 years of
the scheme retirement age
- You offer your employees access to a personal pension
scheme which meets the following conditions:
- it is available to all employees who should have
access to a stakeholder pension scheme (except those
under 18)
- you contribute an amount equal to at least 3 percent
of the employee's basic pay to the personal pension
- the scheme has no penalties for members who stop
contributing or who transfer their pension
- you deduct the employee's contributions from their pay
and send them to the personal pension provider if the
employee asks you to
- You offer an occupational scheme for some staff and a
personal pension scheme for the rest of your employees, and
the schemes meet the conditions above
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