For those that aren't aware, since 2012, Companies who employ staff must offer their employees a company pension scheme. All qualifying employees MUST be enrolled in that pension, and only the employee themselves can opt out of that pension scheme.
The Government gave a scaled process of "staging dates" for companies of different sizes, so that everyone had time to adapt to this new ruling. More and more companies are reaching their staging dates, and as such now MUST have their pension scheme prepared for their employees. If they fail to do so, there are financial penalties which could be applied on a daily basis, to ensure they align themselves with the Auto-enrolment rules. By 2018 ALL companies will have reached their staging date.
We, along with our partners Auto-Enrolment Advice, have a simple, built-for-all solution which can help ensure that clients are meeting their Auto Enrolment obligations, whilst removing as much of the burden of work that this can create. We can outline the options that are available to each company and help to reach the best solution for each individual business.
If you want to understand your Auto Enrolment obligations and what options you have to meet those obligations, arrange to meet one of our Wealth Consultants today.