Qualifying Earnings definition
Examples of Qualifying Earnings in a sentence
Employer portal See ‘Platform’ Entitled Worker A worker who is entitled to join the Scheme but will not be auto-enrolled due to not having the relevant Qualifying Earnings and with no mandatory employer contribution.
Qualifying Earnings Earnings broadly between the Lower and Upper Earnings Limit made up of any of the following items: salary, wages, commission, bonuses, overtime, statutory sick pay, statutory maternity pay, and ordinary or additional statutory paternity pay and statutory adoption pay.
Data Input Benefex shall complete the Design Documents to cover: ▪ Data required to set up the initial starting point for auto-enrolment using standard Automatic Enrolment migration data file; and ▪ Any additional data (e.g. Gross Qualifying Earnings or Worker Categories) required to operate the automatic enrolment rules which shall be incorporated in a single monthly data input file in an agreed format.
To the extent that Actual EBT exceeds the Hurdle for the year in question (such amount of such Actual EBT being referred to as “Qualifying Earnings”), FCBI shall contribute an amount equal to 30% of the excess of such Qualifying Earnings over the Hurdle for that year.
Similarly, to the extent that Qualifying Earnings in any given year exceed the Hurdle that has been established for the second succeeding year, FCBI shall contribute an additional amount equal to 5% of the excess of such Qualifying Earnings over the Hurdle that was originally established for the second succeeding year, provided that Actual EBT in the second succeeding year is not less than Qualifying Earnings so earned in the initial year which gives rise to such compensation.
A worker who is entitled to join the Scheme but will not be auto-enrolled due to not having the relevant Qualifying Earnings and with no mandatory employer contribution.