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Workplace Pension Policy
G3 Security Service will help its employee to save for retirement, automatic enrollment has been introduced by the Government and is being rolled out throughout the UK. This means employers are enrolling their employees into a workplace pension as an easy way to help them start saving for the future. G3 Security Ltd will be using The National Employment savings trust (NEST) Pensions as our workplace pension scheme for automatic enrollment.
G3 Security Ltd will automatically enroll employee into The NEST Pension if they are:
- Aged at least 22 but are under State Pension Age
- Earning more than £10,000 a year (£833 a month or £192 a week)
- Not already an active member of a qualifying workplace pension scheme with us
- Working, or usually working, in the UK.
Once an employee is in The NEST Pension, their employee will make contributions towards their pension pot which G3 Security Ltd deducts from their wages. The Employee will normally receive tax relief on their contributions. Employee will also receive contributions to their pension pot from G3 Security Ltd. This means much more than just their contributions will be going into their pension pot.
As long employee is aged between 16 and 75 they can join The NEST Pension at any time.
If they earn £5,824 a year (equal to about £486 a month or £112 a week) we’ll start contributing from the time they join. If they earn less than that, the regulations mean that they will not be entitled to contributions from G3 Security Ltd.
If an employee wants to join, they should sign a letter telling G3 Security Ltd that they are willing to join The NEST Pension.
Once the employee is a member of The NEST Pension, they will receive a joiner pack from The NEST Pension by email. This will include information about how to opt out if you wish to.