You've probably seen the television advert informing that all business owners who employ staff will be required by law to provide pension schemes for them.
In order to comply, employers will be required to keep more detailed records than they are used to. In some cases they may not have the wherewithal to manage the changes, both in terms of software or personnel which will not only be time consuming but also likely to get very confusing too.
Over the past few months, we have been running Auto-enrolment seminars in order to educate employers, as well as the Solicitors and Accountants that advise them. We believe that it is important for our professional connections to be well aware of the legislation as it has a direct impact on their clients. From the feedback we received, it seems that the attendees were not aware of the complexity of the legislation or the teeth behind it and went away with a greater sense of urgency.
We offer a corporate service which includes access to support in making sure you are ready for your staging date. We can help any size business to comply with the new law, which hits many of us (less than 50 employees) in early 2017. Many large firms may simply rely on their HR departments to handle the work but owners of smaller businesses will have to do it themselves, stretching your precious time even further!
For employers who would like to run their pension scheme in-house, we have created a service with a fixed fee which will enable you to use our expertise to set up the pension scheme on your behalf, before handing back the reigns to you. If the need arises, we can provide support as and when requested.
For employers with a wider range of employees who feel they need more support we offer a researched pension scheme with full advisory support all year round which is priced on a case by case basis dependent on the number of employees.
We can work with you to find the best option for your business, whether you have an existing pension scheme in force or not. We offer an initial meeting to find out about the best way forward at our expense, so there is nothing to lose by starting to plan early.
My first suggestion would be for employers to find out their staging date, if they haven’t already done so. You can find it here.
For a no obligation meeting to see help you start planning please give us a call…