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Questions and Answers
What is the minimum amount that 'pensionable pay' can be in Set 1?
What is the minimum amount that 'pensionable pay' can be in Set 1?
- Basic pay (correct)
- 85% of average pay
- Average pay
- Maximum pay
When can an employer use Set 2 to define 'pensionable pay'?
When can an employer use Set 2 to define 'pensionable pay'?
- When the average pay is 95% or more
- When the average pay is 90% or more
- When the average pay is 75% or more
- When the average pay is 85% or more (correct)
What happens when a jobholder chooses to opt-out of a pension scheme?
What happens when a jobholder chooses to opt-out of a pension scheme?
- They are considered to have never been a member of the scheme (correct)
- They are re-enrolled on the re-enrolment date
- They are entitled to join a different scheme
- They are no longer eligible for the scheme
What is the right of an entitled worker?
What is the right of an entitled worker?
What happens when a jobholder chooses to contribute at a lower rate than required by legislation?
What happens when a jobholder chooses to contribute at a lower rate than required by legislation?
What is the right of an eligible jobholder who has previously opted out?
What is the right of an eligible jobholder who has previously opted out?
What is the minimum amount of earnings that must be pensionable?
What is the minimum amount of earnings that must be pensionable?
When must a jobholder be re-enrolled into a qualifying automatic enrolment scheme?
When must a jobholder be re-enrolled into a qualifying automatic enrolment scheme?
What is the definition of 'opting out' in the context of pension schemes?
What is the definition of 'opting out' in the context of pension schemes?
Who has the right to opt in to a pension scheme?
Who has the right to opt in to a pension scheme?
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