The following questions all relate to auto enrolment and Nest.
The minimum level of contributions to enable a money purchase scheme to be treated as a qualifying scheme for automatic enrolment purposes is to be phased in over a number of years. It is currently proposed that the contributions will reach the full level from 1 October:
The current charges levied by Nest are
A) An AMC of 0.3 per cent on the total value of a member’s fund each year plus a “contribution charge” of around 1.8 per cent
B) An AMC of 0.5 per cent on the total value of a member’s fund each year only
C) An AMC of 0.3 per cent on the total value of a member’s fund each year plus a “contribution charge” of around 1.5 per cent
D) An AMC of 0.48 per cent on the total value of a member’s fund each year only
For the 2014/15 tax year a ‘qualifying jobholder’ will have to be auto enrolled once their earnings reach:
For the 2014/15 tax year what are the minimum and maximum earnings limits on which contributions to a qualifying money purchase pension scheme will be based?
A) £8,105 and £41,865
B) £10,000 and £41,865
C) £8,105 and £42,475
D) £10,000 and £42,475
Widgets 2014 Ltd is a newly incorporated company as such, it will have a staging date for auto enrolment purposes will be:
A) Three months after the date they commenced operating their PAYE scheme
B) Three months after the date they incorporated
C) Between 1 May 2017 and 1 February 2018 depending upon the exact date of incorporation
D) Dependent upon the exact size of its payroll scheme
Questions supplied by Technical Connection
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