The UK Government recognises that payroll auto-enrolment pension contributions need to increase in order to cover projected short-falls in personal pension pots. A private members bill (Extension of Automatic Enrolment No 2) has received a second reading in the House of Lords & is scheduled to return to the Commons in September. The aim is…
Maximising future entitlement to state pension may not be at the forefront of people’s minds, but following the introduction of the new State Pension in 2016, the ability to pay voluntary National Insurance contributions to ‘fill’ gaps will become far more limited from April next year. You can usually only pay for gaps in…
Whitings Wealth Management is pleased to announce that we have been recognised by Citywire New Model Adviser publication as one of the Top 100 adviser firms in the UK. Our aim, as it has always been, is to help make your difficult investment, pensions and protection financial decisions a little easier , through support…
What is a scheme pays election? Scheme pays is a facility that allows you to ask NHS pensions to pay some or all your annual allowance excess charge. However, by making a scheme pays election you suffer a permanent reduction in the pension benefits that you will receive in retirement. If I make a scheme…
The extended 31 March 2022 deadline for NHS Doctors to submit their scheme pays elections and compensation policy applications for the 2019/20 tax year is fast approaching. For those NHS Doctors that suffered an annual allowance pension tax charge in the 2019/20 tax year had the option to either pay the charge directly to…
As you will know by now, in the budget speech of 3rd March 2021, the government announced the extension of the current furlough scheme until September 2021. Further guidance has now been issued as to how the scheme will operate. Firstly, for periods starting after 1st May, you can claim furlough for any employee,…
Further to the budget announcements at the end of October 2018, rate changes to the National Minimum Wage (NMW) have been confirmed for April 2019. These are in line with the recommendations that were made by the low pay commission. Year 25 and over 21 to 24 18 to 20 Under 18 Apprentice April 2018 (current rate) £7.83…
All employers and employees currently paying the minimum contribution of 1% will have to factor contribution increases into their cashflow in order to meet the rise in the level of auto enrolment funding. From 6 April 2018 to 5 April 2019, the employer minimum contribution will increase to 2% with staff contribution equalling 3%.…
View our latest information bulletin regarding Auto Enrolment including details on Contribution Phasing, What to pay and information on complying with the Pensions Regulator. Download Latest Auto Enrolment Leaflet For further information and guidance you can contact your usual Whiting and Partners representative or speak to our payroll department on 01353 662595 or by email…
The Pensions Regulator have recently been working their way around the country, making spot checks to ensure employers are complying with Auto-enrolment duties. These help The Pensions Regulator understand any challenges employers are facing, and if they need to make any changes to their guidance. It also helps them identify employers who are failing…