Koru Kids nannies may be eligible for enrolment into a workplace pension scheme.
As part of our service we assess, operate and pay into workplace pension schemes on behalf of our families who are the employers.
Employers are required to automatically enrol employees into a pension scheme and make pension contributions if all of the following apply:
The nanny is aged between 22 and the State Pension age
The nanny earns at least £10,000 per year
£192 per week
£833 per month
£768 per 4 weeks
If these do apply, we will automatically assess and enrol the nanny.
Both the nanny and the family contribute a percentage of the nanny’s earnings into the workplace pension scheme. The workplace pension contributions from April 2019 are 3% by the employer and 5% by the employee. Total contribution of 8%.
If a nanny is not eligible for automatic enrolment, they may choose to enrol voluntarily, in which case the family must contribute the minimum amount if the nanny earns more than:
£120 per week
£520 per month
£480 per 4 weeks
The family do not have to contribute anything if the nanny earns these amounts or less.
The earnings and percentages mentioned in this article are subject to change, according to UK statute.