Auto-Enrolment, or Workplace Pensions, is one of the biggest reforms of UK pensions in decades and affects all businesses, large and small, and applies to every business in the UK that employs at least one member of staff.
Exactly when you need to comply by (called your Staging Date) depends on your PAYE number, please see the link below to the staging date calculator.
We have produced a useful Auto-Enrolment/Workplace Pensions Guide, which explains how this works in detail. This guide can be accessed here – Work place pensions and auto enrolment guide April 2017.
The following sites also produce very useful information for employers:
The Pensions Regulator – Guide for Employers
The Pensions Regulator – Staging Date Calculator
At HFS Milbourne Financial we have been providing pensions advice to employers for over 30 years, and in our opinion these changes are unprecedented, and will catch out any unwary employer.
Private Pensions or NEST?
We can advise you on both options. For some employers, a combination of both a private scheme and NEST is the solution. We can assist you with setting up just a NEST scheme, if this is what is required.
If you are a smaller company or a start up business yet to stage, we strongly recommend you start engaging with the auto enrolment requirements at least two months before your actual staging date.
Existing Auto-Enrolment schemes
If you have already set up an auto-enrolment pension scheme and you are unhappy with the service levels given by your adviser or pension provider, we are happy to carry out a review of your existing scheme. The auto-enrolment market is a competitive one and we are often able to obtain improvements for clients in terms of cost, benefits and service.
We charge fees for our services. After speaking to our clients, we have produced a menu-based fee schedule, as no employer wants the same thing! You are therefore able to pick and choose the services that are right for you.
Register with us
If you register with us we will prepare for you a free personalised step by step guide tailored to your staging date, and then keep you up to date on a regular basis to make sure you comply in plenty of time. Please register with us here.
Last minute panic?
If you have left things to the last minute, and need help, please urgently call us on 01483 468888, and ask for our Employee Benefits Department.