Pensions for payroll

What retirement age are state pension reforms working towards?

• 67

• 68

• 69

• 70

Which organisation monitors workplace pensions?

• Occupations Pensions Board

• HMRC

• Occupational Pensions Regulatory Authority

• The Pensions Regulator

Which of these means pension deductions reduce taxable pay?

• Give as you earn

• NEST

• Net Pay Arrangement

• Relief at Source

What is the current total contribution for auto enrolment schemes using qualifying earnings band?

• 5%

• 7%

• 8%

• 9%

What is the annual pensions allowance?

• £25000

• £40000

• £120000

• £1073100

How many qualifying years do you need to get the full state pension?

• 15

• 25

• 35

• 45

The state pension is taxable

• True

• False

Equalisation of pension age was legislated what act?

• Pensions Act 1995

• National Insurance Act 1946

• Social Security Act 1973

• Pensions Act 2011

An employer can choose to pay all contributions for an employee instead of the employee paying?

• True

• False

In a Relief at Source scheme, if the employee's contribution is 5%, what is the deduction?

• 1%

• 4%

• 4.5%

• 5%