The new Auto Enrolment rules mean that most business owners will need to contribute to a pension scheme set up for their employees. All employees will need to be enrolled if they:
Are aged between 22 and State Pension age
Earn more than £10,000 per year
Work in the UK
Employees will be permitted to opt out but the employer cannot encourage them to do so.
Initially the employer will be required to contribute 1% of the employee’s qualifying earnings into a pension scheme, but this will rise to 3% by 2018. This could represent a significant increase in business costs and so it is important for you to get expert advice on the options for implementing the Auto Enrolment rules.
We will provide trustworthy advice on your options for complying with this legislation.
For a one off fee we will produce a report which gives you options and a recommendation based on the profile of your workforce.