FAQs
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"How much do I need to pay into my employees’ pension?"
If the qualifying earnings basis is being used, the minimum contribution is 8% with at least 3% from the employer on qualifying earnings falling between upper and lower earnings limits of £6,240 and £50,270 a year.
"Does People’s Partnership use the Origo online system?"
Yes, we do.
"What’s a reduced charge code and how do I get one?"
A reduced charge code is a discount code for advisers to share with their clients.
"Why does the pay reference period differ from the earnings period?"
The pay period (PRP) is the time between regular wages or salary. The earnings period is the time that salary is worked for.
"How much do you charge employers who sign up to People's Pension?"
The normal cost for an employer signing up to People’s Pension is £500 (plus VAT).
"Payments haven’t been made to my workplace pension scheme. What do I do?"
If your employer is behind with payments, we’ll initially get in touch with them to let them know that a payment is overdue.
"Why has my pension gone down in value?"
When you or your employer contributes to your pension, we invest it in your selected fund(s). Depending on the fund performance your pension can go down as well as up.
"What affects the amount of my projected retirement value?"
Pensions are long-term savings. Your projected retirement value takes into account the following key assumptions.
"How do I transfer my savings to another pension provider?"
Thinking of leaving People’s Pension? If you’re thinking about moving to another pension provider, it’s a good idea to consider all your options first.