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Auto-Enrolment in Workplace Pensions
Get the most for your company and employees from workplace pensions.
Since 2012 all businesses are required to automatically enrol employees into a workplace pension – even if they have just one qualifying employee. And there are penalties if you don’t comply from £50 per day for the smallest companies to £10,000.
There are at least fifteen procedures to get right from the initial set-up to ongoing management of plans, but it need not be a tortured experience. Indeed, given the right amount of preparation, this mandatory requirement should be presented as a clear employee benefit.
And preparation is key – there are a variety of low-cost pension providers with compliant plans, but they manage their investments differently. Some have more experience than others, legal structures can differ and there are basic service areas that are important, such as how many support staff they have as ‘staging date’ bottle necks approach – as independent advisers we look at them all.
So, we can help simplify this whole process and, with effective communication, ensure that you and your staff get the most from this mandatory requirement.
To find out more call or simply complete the contact form and we’ll get back to you shortly. You can also research a little yourself on the Pensions Regulator website.