Pensions FAQs for new starters
Pensions FAQs for new starters
Will I be automatically enrolled into a workplace pension scheme?
Pensions law requires employers to enrol all eligible workers into a workplace pension scheme. This applies to workers who aren’t already in a pension scheme with York Teaching Hospital Facilities Management LLP and who:
- earn over £10,000 a year (£833 a month)
- are aged 22 or over
- are under State Pension age (SPA)
Each pay period we assess all workers against these criteria, and if they meet them they will be automatically enrolled into a workplace pension scheme from that month’s salary. We will write to workers who have been enrolled to inform them of this.
Which pension scheme will I be enrolled into?
York Teaching Hospital Facilities Management LLP has chosen to offer NEST (National Employment Savings Trust) as its workplace pension scheme to meet its employer duties and help workers put money aside for their retirement. If you are enrolled then NEST will send you a welcome pack providing further details regarding the scheme.
How much are the pension contributions?
The amount you will pay will be a percentage of any earnings between £503 and £3863 per month, with the percentage being determined using the below table. York Teaching Hospital Facilities Management LLP will also contribute 14% of any earnings between these amounts. Your pension fund will also normally be increased due to tax relief which NEST will claim from the government on your behalf.
|
Full-Time Annual Basic Pay |
Contribution Rate |
|
Up to £15,785.99 |
5.0% |
|
£15,786.00 to £21,691.99 |
5.6% |
|
£21,692.00 to £27,091.99 |
7.1% |
|
£27,092.00 to £47,845.99 |
9.3% |
|
£47,846.00 to £70,630.99 |
12.5% |
|
£70,631.00 to £111,376.99 |
13.5% |
|
£111,377.00 and over |
14.5% |
Can I opt-out if I don’t want to contribute to a workplace pension scheme?
Yes. Although employers are legally obliged to enrol eligible workers into a workplace pension scheme, you are free to opt-out at any time after being enrolled. Details of how to opt-out will be included in your welcome pack from NEST, and if you opt-out by the deadline they provide then any contributions already deducted from your salary will be refunded to you.
Can I voluntarily join the pension scheme if I am not automatically enrolled or if I have previously opted-out?
Yes. To voluntarily opt-in to the NEST scheme please send a signed letter asking to join to:
Pensions Office (YTHFM LLP)
Tribune House
Tribune Way
Clifton Moor
YORK
YO30 4RY
Where can I obtain further information?
If you would like to know more about NEST you can visit their website at www.nestpensions.org.uk or by searching online for NEST pensions. Alternatively NEST’s contact details are:
- Post: NEST, Nene Hall, Lynch Wood Business Park, Peterborough. PE2 6FY
- Email: support@nestpensions.org.uk
- Member enquiries: 0300 020 0090
If you have any other queries then please contact the Pensions Office by one of the following methods:
- Post: Pensions Office (YTHFM LLP), Tribune House, Tribune Way, Clifton Moor, YORK. YO30 4RY
- E-mail: pensions@york.nhs.uk
- Telephone: 01904 725196, 01904 725911 or 01723 342242