Since October 2012, the Government is compelling employers, irrespective of size, to enrol most of their employees into a qualifying workplace pension scheme to encourage people to save for their retirement and not rely solely on the State.
At The Pentelow Practice Ltd, we offer guidance and advice to help business owners cater for and understand the issues surrounding workplace pensions.
- What are the planning issues for you as an employer?
- You may need to set up a new Pension Scheme even if you already have one
- You will need to fulfil all of The Pensions Regulator’s requirements
- You will need to make contributions on behalf of your employees
- This will invariably come at an additional cost and needs to be in the Company’s Business Plan – you need to know how much this will cost and plan accordingly
- You should review your existing pension scheme(s) if you have them