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Chewing Grass

Pensions - Auto Enrolment

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I run a micro business and have just got a nasty letter from the Pensions Regulator.

Apparently I have not done the Declaration of Compliance for my business and its is big stick followed by finey finey time.

Now ignoring the fact that I have not had a previous letter or being small i.e. 1 and 1/2 an employee and the me mentally thinking I didn't need to do anything off my own bat mistake.

The following struck me after jumping through the electronic hoop.

1) the only info they got was how many employees I had and how many were in a pension scheme, no names no scheme names.

Thing is they already know this (or the glubberment does) from my PAYE/NI.

The whole thing is pointless bollocks and is like they are fishing for mismatches of information.

Same with fucking Tax returns, they already know 90% of the information you tell them.

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I agree, it is a complete pain.

They could have said 'micro SME <5 employees are exempt', but no, they had to make it for everyone.

There doesn't seem to be any recognition that for a microSME there's a massive amount of effort for perhaps 1/2 an employee.  It is about the same amount of effort for a 20-50 employee SME.  The real-world impact of this is that the micro-SME is penalised compared with their larger competitors.

The even more stupid thing is, the employees aren't allowed to simply opt out -- send the employer a signed letter that they're happy enough.  No -- you have to get a pension provider (use NEST if you have to), enrol the employee, and then get them to opt out of the pension.  I've no idea why they thought this would be a good way (well, it would work well for the 100 employee company, just not for the microSME).

I'd have been happy enough if they'd mandated that I give the employees a pay rise equivalent to the employer contribution.  But, no, they've got to make me waste days of effort trying to sort it out.

 

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4 minutes ago, Chewing Grass said:

I run a micro business and have just got a nasty letter from the Pensions Regulator.

Apparently I have not done the Declaration of Compliance for my business and its is big stick followed by finey finey time.

Now ignoring the fact that I have not had a previous letter or being small i.e. 1 and 1/2 an employee and the me mentally thinking I didn't need to do anything off my own bat mistake.

The following struck me after jumping through the electronic hoop.

1) the only info they got was how many employees I had and how many were in a pension scheme, no names no scheme names.

Thing is they already know this (or the glubberment does) from my PAYE/NI.

The whole thing is pointless bollocks and is like they are fishing for mismatches of information.

Same with fucking Tax returns, they already know 90% of the information you tell them.

Unfortunately you’re not multinational and incorporated.... that = easy time.

Ordinary person trying to get on....that = hard time.....what other ways can we dream up to extract more from you.

Pensions....don’t get me started. I’m fucking enraged for myself and, I guess, the majority of other people that the elite and rulers can be in their privileged position while passing rules that the serfs should work until late sixties....currently.

Why isn’t the whole country rebelling about pension age increases to age 70.

Is it just me? Am I the only one who thinks that an ordinary person is able and willing to work until age 70. Furthermore....where are all the jobs to employ a super duper workforce from age 20 until 70.

I feel I’m living in a joke world where reality is only a perspective available to me. Perhaps I’ve gone mad? Our rulers are perhaps correct with their vision of everyone employed from 20 to 70. I think that’s a crap world view.

Why are the British population accepting this attitude from the rulers that it’s acceptable to return to the days where you worked until you drop?

What’s civilised about that? Nothing IMO!

Working until you drop might not seem so bad until you consider the shit doled to individuals in a norm uk workplace scenario.

For me, working until I drop would be ok if it was a bit interesting, rewarding and I got paid enough to live with some extra. Oh dear....EE...you’ve misunderstood..............

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1 minute ago, Economic Exile said:

Unfortunately you’re not multinational and incorporated.... that = easy time.

Ordinary person trying to get on....that = hard time.....what other ways can we dream up to extract more from you.

Pensions....don’t get me started. I’m fucking enraged for myself and, I guess, the majority of other people that the elite and rulers can be in their privileged position while passing rules that the serfs should work until late sixties....currently.

Why isn’t the whole country rebelling about pension age increases to age 70.

Is it just me? Am I the only one who thinks that an ordinary person is able and willing to work until age 70. Furthermore....where are all the jobs to employ a super duper workforce from age 20 until 70.

I feel I’m living in a joke world where reality is only a perspective available to me. Perhaps I’ve gone mad? Our rulers are perhaps correct with their vision of everyone employed from 20 to 70. I think that’s a crap world view.

Why are the British population accepting this attitude from the rulers that it’s acceptable to return to the days where you worked until you drop?

What’s civilised about that? Nothing IMO!

Working until you drop might not seem so bad until you consider the shit doled to individuals in a norm uk workplace scenario.

For me, working until I drop would be ok if it was a bit interesting, rewarding and I got paid enough to live with some extra. Oh dear....EE...you’ve misunderstood..............

And hen the have this auto enrolment of pensions which you will never be able to claim against. They will either do a runner with the money or the retirement age will be so high, you will be dead before you reach it. 

Just another mechanism for gouging money out of the poor sap worker. 

Yes im nary too. I’m on strike because of it. :)

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47 minutes ago, Chewing Grass said:

I run a micro business and have just got a nasty letter from the Pensions Regulator.

Apparently I have not done the Declaration of Compliance for my business and its is big stick followed by finey finey time.

Now ignoring the fact that I have not had a previous letter or being small i.e. 1 and 1/2 an employee and the me mentally thinking I didn't need to do anything off my own bat mistake.

The following struck me after jumping through the electronic hoop.

1) the only info they got was how many employees I had and how many were in a pension scheme, no names no scheme names.

Thing is they already know this (or the glubberment does) from my PAYE/NI.

The whole thing is pointless bollocks and is like they are fishing for mismatches of information.

Same with fucking Tax returns, they already know 90% of the information you tell them.

I got hit with exactly the same thing. £400 fine, and then another £500 per day from March 21st.

Spent all yesterday getting it sorted (had been putting it off) so now, in a few days time, my staff can opt out of the whole fucking con.

I wonder how much they have made out of these fines?

The contributions I would have paid would have been less than £100 so it seems excessive.

PITA.

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10 minutes ago, One percent said:

And hen the have this auto enrolment of pensions which you will never be able to claim against. They will either do a runner with the money or the retirement age will be so high, you will be dead before you reach it. 

Just another mechanism for gouging money out of the poor sap worker. 

Yes im nary too. I’m on strike because of it. :)

That is another thing, if you are low paid and part-time you will get fuck-all out of it.

Basically every £1000 in the pot gets you £1 per week based on a drawdown pension of 5% which would last 27 years without index linking. With index linking of a modest 4% it would only last 17 years.

Fees for paying into a private scheme are a minimum of £10/month per employee for a small business.

They even stipulate that someone employing a carer privately is legally liable for Auto-Enrolment which is almost a green light for all such activities and others to be corporatised.

Technically if you are self employed via your own company you are liable for compliance of yourself.

1 minute ago, Cunning Plan said:

I got hit with exactly the same thing. £400 fine, and then another £500 per day from March 21st.

Spent all yesterday getting it sorted (had been putting it off) so now, in a few days time, my staff can opt out of the whole fucking con.

I wonder how much they have made out of these fines?

The contributions I would have paid would have been less than £100 so it seems excessive.

PITA.

My nasty letter was dated early Jan when was yours?

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1 minute ago, Chewing Grass said:

That is another thing, if you are low paid and part-time you will get fuck-all out of it.

Basically every £1000 in the pot gets you £1 per week based on a drawdown pension of 5% which would last 27 years without index linking. With index linking of a modest 4% it would only last 17 years.

Fees for paying into a private scheme are a minimum of £10/month per employee for a small business.

They even stipulate that someone employing a carer privately is legally liable for Auto-Enrolment which is almost a green light for all such activities and others to be corporatised.

Technically if you are self employed via your own company you are liable for compliance of yourself.

You can just imagine that they have been sat in smoked filled rooms with their bankster mates dreaming this one up. 

That and wanting to destroy small businesses so that their big mates like Carillion (xD) and G4S can clean up. 

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3 minutes ago, Chewing Grass said:

That is another thing, if you are low paid and part-time you will get fuck-all out of it.

To me they're the sort of people the thing is aimed at as most people on a decent wage probably already have a pension or at least access to a much better scheme.  The whole thing is bollocks for everyone concerned.

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6 minutes ago, Chewing Grass said:

 

Technically if you are self employed via your own company you are liable for compliance of yourself.

 

Just to make it plain for anyone interested -- ltd company with one director as sole employee is exempt -- but you've got to go to a special web-page that you're not told about to tell them so that they don't fine you.

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4 minutes ago, Chewing Grass said:

That is another thing, if you are low paid and part-time you will get fuck-all out of it.

Basically every £1000 in the pot gets you £1 per week based on a drawdown pension of 5% which would last 27 years without index linking. With index linking of a modest 4% it would only last 17 years.

Fees for paying into a private scheme are a minimum of £10/month per employee for a small business.

They even stipulate that someone employing a carer privately is legally liable for Auto-Enrolment which is almost a green light for all such activities and others to be corporatised.

Technically if you are self employed via your own company you are liable for compliance of yourself.

My nasty letter was dated early Jan when was yours?

The one with the fine was last week. 

The other stinger they hit me with last year was 3x £100 fines for late online filing. My staff works stretchy hours so I pay her a round sum at the end of the month and then do the payroll when she gives me her hours, which may be 10 days later. I didn't realise you had to submit the numbers on the month end day or you got a fine - and they hit me with three months in one letter.

Sadly, last month the online update kept failing due to 'password errors' Two days of permanently trying and I discovered HMRC had changed the upload method on Feb 14th and I needed to update the software. This information wasn't published anywhere. I await another £100 kick in the bollocks.

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In hindsight I can think I’m lucky that I had a good number of hopeful years thinking I can buy a house and look forward to a nice retirement. Back in the day of those thoughts it was promoted that people would retire at age 50.....

How can that be in one person’s lifetime that a person’s thoughts can warp from retirement at age 50 to age 70. I’m not even that old....only 60!

What can the majority of young people look forward to these days....l

IMO, the majority are very “lucky” to get any job over minimum wage.....buy a house? Only those from a well off family or lucky ones who get a well paid job. Pension?.........what’s that from a young person’s perspective. 8 think that’s exactly how rulers want young people to think. No such thing as a pension....we’re all living longer and work is good for us. Bollocks!

Surely ordinary people won’t accept this dismal life path on offer for the masses? Will they? I hope not!

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4 minutes ago, Economic Exile said:

Back in the day of those thoughts it was promoted that people would retire at age 50.....

I remember back between 1995 and 2000 the former nationalised company I was working at was full of fuckers 50+ leaving with six figure sums and early retirement pensions that although at a fixed level were indexed linked again once they reached 60.

The assumption was that the cash was to get you to go and the pension was 'normal'.

I was only in my late 30s so such fab treatment was only a pipe dream.

Virtually all the fuckers left and then worked for sub-contractors in the private sector.

Cats'n'Cream, lucky bastards.

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Posted (edited)
34 minutes ago, dgul said:

Just to make it plain for anyone interested -- ltd company with one director as sole employee is exempt -- but you've got to go to a special web-page that you're not told about to tell them so that they don't fine you.

I thought you could have as many directors as you want, as long as the directors have no employment contract and you have no workers then there is no need to opt-out.

Edit: Fuck me, you are right - https://www.sjdaccountancy.com/resources/pension-auto-enrolment-contractors

I was not aware of this, thanks dgul, I will get my fellow director to deal with this first thing - that’s delegation for you!

Edited by OurDayWillCome

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35 minutes ago, Cunning Plan said:

I got hit with exactly the same thing. £400 fine, and then another £500 per day from March 21st.

Spent all yesterday getting it sorted (had been putting it off) so now, in a few days time, my staff can opt out of the whole fucking con.

I wonder how much they have made out of these fines?

The contributions I would have paid would have been less than £100 so it seems excessive.

PITA.

I wonder how many small employers will be made near* bankrupt by this?  Bet it's >0.

[* they'll back down and reduce the fine so that they merely cripple the sme]

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43 minutes ago, Chewing Grass said:

That is another thing, if you are low paid and part-time you will get fuck-all out of it.

Basically every £1000 in the pot gets you £1 per week based on a drawdown pension of 5% which would last 27 years without index linking. With index linking of a modest 4% it would only last 17 years.

Fees for paying into a private scheme are a minimum of £10/month per employee for a small business.

They even stipulate that someone employing a carer privately is legally liable for Auto-Enrolment which is almost a green light for all such activities and others to be corporatised.

Technically if you are self employed via your own company you are liable for compliance of yourself.

My nasty letter was dated early Jan when was yours?

That is madness ,and if it was not for a case of a mate who`s a self employed tree surgeon /one man band getting a hefty fine because his chain saw did not have a test certificate and he did not have the correct training certs (been using one for 30 years ) i would not believe it to be true 

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its insane my employer has opted me in 3 times within the last 18 months,and its takeing me at least 2 months to opt out,i dont think id see any increase in my pension concidering my age and its going to go up rapidly.

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2 hours ago, Economic Exile said:

 Furthermore....where are all the jobs to employ a super duper workforce from age 20 until 70...........

Maintaining Cobol programmes. A job for life, literally.

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29 minutes ago, davidg said:

Maintaining Cobol programmes. A job for life, literally.

Or until your fingers have worn away.

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Posted (edited)
5 hours ago, One percent said:

You can just imagine that they have been sat in smoked filled rooms with their bankster mates dreaming this one up. 

Never ascribe to malice..  etc.

To me this has much more of a whiff of politicians and academic advisors to the former. 

Great in theory..  everyone should have a pension,  less burden on the state, effectively increases minimum wage at no cost to the government..  what’s not to like?

These guys obviously don’t run companies so the little details about having to administer all this extra BS is a completely alien concept to them.

Government really, really should try to keep out of business wherever practically possible. It’s no wonder companies try so hard not to employ people and create jobs!

Edited by Libspero

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12 hours ago, Chewing Grass said:

That is another thing, if you are low paid and part-time you will get fuck-all out of it.

Basically every £1000 in the pot gets you £1 per week based on a drawdown pension of 5% which would last 27 years without index linking. With index linking of a modest 4% it would only last 17 years.

Fees for paying into a private scheme are a minimum of £10/month per employee for a small business.

It's just a con isn't it.

Any amount you get excludes you from any govt help as a pensioner. 

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1 minute ago, sarahbell said:

It's just a con isn't it.

Any amount you get excludes you from any govt help as a pensioner. 

If (and it's a big if) it actually pays out.

Yes, agree, it is but a con 

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53 minutes ago, sarahbell said:

It's just a con isn't it.

Any amount you get excludes you from any govt help as a pensioner. 

Exactly. Stage two of the plan is to means-test state pension.

High earners will end up with nothing. Steady low and mid level workers will end up with half state pensions. Only the people who did nothing will receive the full state pension.

At what point will atlas shrug?

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3 minutes ago, billfunk said:

Exactly. Stage two of the plan is to means-test state pension.

High earners will end up with nothing. Steady low and mid level workers will end up with half state pensions. Only the people who did nothing will receive the full state pension.

At what point will atlas shrug?

Tomorrow at this rate.  

I do hope that if they go with this plan, they refund everyone's National Insurance contributions  :)

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1 minute ago, One percent said:

Tomorrow at this rate.  

I do hope that if they go with this plan, they refund everyone's National Insurance contributions  :)

I'm sure they will. They are not in the business of robbing everyone blind.

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