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To help us all save for our retirement, automatic enrolment has been introduced by the government and is being rolled out throughout the UK.

This means that employers are enrolling their employees into a workplace pension as an easy way to help them start saving for their future.

Carlton Resource Solutions Ltd will be using The People's Pension as our workplace pension scheme for automatic enrolment.

What does this mean for me?

We will automatically enrol you into The People's Pension if after the 11 week waiting period from being assessed as an Eligible Jobholder you are:

Aged at least 22 but are under State Pension Age
Earning more than £192 per week
Working, or usually working, in the UK

If you don't meet these criteria initially but you do meet them at a later date we will automatically enrol you then.

Once you are in The People's Pension you will make contributions towards your pension which we will deduct from your wages. You will normally receive tax relief on those contributions. You will also receive contributions to your pension from Carlton Resource Solutions Ltd. This means that much more than just your own contributions will be going into your pension fund.

Can I choose to join earlier? Can I join even if I won't be automatically enrolled?

Yes. As long as you are aged between 16 and 75 you are able to join The People's Pension at any time.

As long as you earn £111 per week we will start contributing to your pension fund but anyone who earns less than £111 per week isn't entitled to contributions from us.

How much will be getting paid to my pension fund?

The legal minimum level of contribution is based on what is known as Qualifying Earnings. This is a band of your total gross earnings including basic pay, bonuses, commission, holiday pay, maternity and paternity leave and almost anything else that you are paid in relation to your work.

Qualifying Earnings for the current tax year are based on your earnings between £111 per week and a maximum of £805 per week.

Initially, we will be contributing 1% of your Qualifying Earnings to the scheme and you will also be required to contribute 1% personally. However as your own contributions will qualify for tax relief you will only have 0.8% of your Qualifying Earnings taken from you wages and the government will add tax relief on your behalf.

These minimum contributions will eventually rise to 3% from us and 5% (4% after tax relief) from you personally by 1 October 2018. You will be notified when changes to the contributions are taking place.


What if I don't want to be auto enrolled into the scheme?

You will have the opportunity to opt-out after you have been auto enrolled into our workplace pension scheme and details of how to do so will be provided by The People's Pension along with your joining pack.

However saving for your retirement is important and you should carefully consider the impact of opting out on your retirement income.

Even if you choose to opt-out you will automatically be re-enrolled again, usually after around three years.

Please note that it is possible that pension contributions may be deducted from your wages during the opt-out period, but these will be refunded to you following receipt of your opt-out notification.

Further Information

More detailed information on auto enrolment and also The People's Pension can be obtained by clicking on the following link to their website:

http://thepeoplespension.co.uk/employees/

A short informative video can also be accessed from the following link:

http://thepeoplespension.co.uk/animation/



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