Individual Employee Personal Pensions
Where you contribute to your employees' Personal Pension Plans, to gain exemption from the Stakeholder legislation, you must:
- pay contributions for each employee of at least 3% of basic pay;
- document the arrangement with the individual;
- ensure the plan does not impose exit penalties if the employee decides to cease contributions or transfer to another PPP;
- make this arrangement available to all employees over the age of 18 who have completed three months continuous service, and includes part-time and temporary or contract workers.
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