Does my Umbrella Employer have to provide a workplace pension scheme? Yes. All employers have to provide a workplace pension scheme for eligible employees.
I have been told I must join my Umbrella Employer pension scheme. Is it compulsory? Auto-enrolment into a workplace pension scheme is required by law, but you can opt out any time you want.
Who is an Eligible Job Holder? An eligible job holder is anyone over 22 – but under state pension age – who earns over the annual pension earnings trigger in the UK.
Can I opt out from Pension contributions? Yes. If you are auto-enrolled into your umbrella employer’s workplace pension scheme, you can opt out at any time.
How long does opting out of a Pension last for? An opt-out from the pension scheme normally lasts for three years.
What flexible benefits are available to Umbrella Employees? As an umbrella employee, there are some benefits available to you that can provide tax and NI savings via your payslip, For example: Pension salary sacrifice and a Cycle to work scheme.
Can I re-join a Pension scheme if I have opted out? Yes, but exactly when you can re-join depends on your employer.
How are Pension contributions calculated? Pension contributions can be calculated in different ways, but there are minimum total contributions levels that must be paid under automatic enrolment.
What other Pension options are available to me? Some umbrella employers offer the option of salary sacrifice as part of their own independently administered pension scheme.
What is a KID? (Key Information Document) Key Information Documents were introduced on 6th April 2020 and is an attempt to increase pay transparency for umbrella employees and provide key information to them regarding their assignments.