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What does GDPR mean and how does it affect me?

Posted on: 16th Apr 2018 by: CamOuse Financial Management Limited

GDPR is one of those acronyms you’re probably hearing a lot about at the moment. You’re no doubt receiving a high number of emails asking if you’re still happy to receive communications from a company and to be on their database. So what are the reasons behind this?

In 2016, a bill was passed by the European Union introducing the Global Data Protection Regulation, which will come into force as of 25th May 2018. GDPR defines the legal rights of EU citizens in relation to their data, and enforces regulations on the data controllers and processors who hold that data.

Under GDPR, organisations will find themselves in one of two categories; data controllers and data processors. Controllers are those who ‘determine the purposes for which and the manner in which any personal data are, or are to be, processed’ and processors are those (other than an employee of the data controller) ‘who process the data on behalf of the data controller’.

The definition of ‘personal data’ applies to any information that can be used to identify a person, either directly or indirectly. That includes a subject’s name, location, IP address or mobile device identity, and any organisation that holds the personal data of any EU citizen must ‘implement appropriate technical and organisational measures’ to protect that data.

Any organisation holding EU citizens’ data will need to tell you how your data will be processed. There are 6 different lawful bases for this which are outlined for organisations as below:

1. Consent: the individual has given clear consent for you to process their personal data for a specific purpose.

2. Contract: the processing is necessary for a contract you have with the individual, or because they have asked you to take specific steps before entering into a contract.

3. Legal obligation: the processing is necessary for you to comply with the law (not including contractual obligations).

4. Vital interests: the processing is necessary to protect someone’s life.

5. Public task: the processing is necessary for you to perform a task in the public interest or for your official functions, and the task or function has a clear basis in law.

6. Legitimate interests: the processing is necessary for your legitimate interests or the legitimate interests of a third party, unless there is a good reason to protect the individual’s personal data which overrides those legitimate interests (this cannot apply if you are a public authority processing data to perform your official tasks).

As the 25th May deadline approaches, we’re sure you’re coming into contact with a number of different organisations who are communicating their own GDPR journey with you. This can sometimes feel overwhelming but it’s important to note that although organisations will communicate with you in different ways, they will all be working to the same lawful bases.

If you’re interested in learning more, we recommend consulting the Information Commissioner’s Office Guide to the General Data Protection Regulation which can be found here.

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CamOuse Financial Management is authorised and regulated by the Financial Conduct Authority.

None of the information contained in this website should be considered as personal recommendation and is for information only. Should you wish to make a financial transaction we recommend that you take personal financial advice after a thorough review of your personal and financial circumstances.

The information contained within the website is subject to the UK regulatory regime and is therefore primarily targets at customers in the UK.

Registered address: Unit 111, Lancaster Way Business Park, Ely, Cambridgeshire, CB6 3NX

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Understanding the true cost to your business

Pension arrangements must be available for all employees. There are three categories of employee:

Eligible

Aged between 22 and State Pension Age (SPA) with qualifying earnings over the Auto Enrolment earnings trigger

Non-eligible

Aged between 16 – 74 with qualifying earnings between lower threshold and the Auto Enrolment earnings trigger
 
Aged between 16 -21 or SPA – 74 with qualifying earnings over Auto Enrolment earnings threshold

Entitled

Aged between 16 -74 with earnings below the qualifying earnings lower threshold

Important Notes

  1. Eligible jobholders must be auto-enrolled
  2. Non-eligible jobholders are allowed to be auto-enrolled if they want to
  3. Entitled workers are entitled to join a pension scheme, but the employer doesn't have to contribute

Qualifying Earnings lower threshold

£5,772

Qualifying Earnings upper threshold

£41,865

Automatic Enrolment earnings trigger

£10,000

Minimum contribution level options:

8% of Qualifying Earnings of which

3% is employer's (starting at 1%)

9% of Basic Salary of which

4% is employer's (starting at 2%)

8% of Basic Salary of which

3% is employer's (starting at 1%)

(Where basic salary is at least 85% of total earnings)

7% of gross earnings of which

3% is employer's (starting at 1%)

Pay reference period

Essentially the frequency that the jobholder is paid e.g. monthly, weekly etc. but with reference to the tax month, week etc. therefore it may not be the same as the payroll period.

Deduction and payment of contributions

It is the employer who is responsible to calculate, deduct and pay all contributions to the AE scheme. NOTE – the first and last contributions are likely to be for less than a full pay reference period and should be adjusted accordingly.

Payroll services

It can be seen that it is very important that the payroll system synchronises with the AE scheme otherwise the employer will not be carrying out all requirements and then penalties will be incurred.

Staging date

Based on the employer’s payroll size as at 1 April 2012 and can be found at www.thepensionsregulator.gov.uk/employers using your PAYE reference. The Qualifying Workplace Pension Scheme must be registered with The Pensions Regulator within 4 months of the staging date.

Compliance and communication

Postponement

Auto-Enrolment can be postponed for up to 3 months:

  • For current eligible employees
  • For workers that meet the criteria in the future for the first time e.g. avoid joining temporary or lower paid workers

Opt-Outs

All eligible employees must be auto-enrolled, but can, with the correct notification, opt-out within one month of joining the scheme and be treated as never having joined. They can opt back in and will automatically be auto-enrolled every 3 years in any case!

Communication

There is a wide range of information that must be provided to all employees at certain times, such as:

  • The date auto-enrolment took place for eligible jobholders
  • That non-eligible jobholders have the statutory right to opt in
  • Entitled workers have the right to request the employer to enrol them into a pension scheme

Salary sacrifice

Contributions can be paid by effectively reducing salary, which saves on NI contributions, but employee must choose to do this – they cannot be forced, so a contractual variation will need to be implemented.

Default investment fund

Investment Options

All eligible employees will be automatically invested into a default investment fund, which is a balanced risk fund that is “life styled” to account for the employees approach to retirement. They also have the option to invest in a wide range of funds of their choosing.