Automatic enrolment of employees into workplace pension schemes is now well underway. By October 2018, every UK employer will be required to have a pension’s scheme in place that meets all the ongoing requirements of the new Workplace Pension regulations.
Although the date that you begin enrolling your employees may still appear to be a long way off, businesses with 49 workers began being phased in from June 2015 with the remainder being phased between now and the end of March 2017. The vast majority of employers will be staging next year, with 512,000 businesses having to establish a workplace pension during 2016.
So putting plans in place now; establishing terms, deciding on the structure of your scheme and how you will manage auto-enrolment within your business, will make life much easier later on. At Keystone we have already helped hundreds of companies establish schemes to meet their obligations under this new legislation. We are fully independent, so once we have tailored your scheme based on the options you have under the rules, we can then approach the providers who are in this market to establish the most appropriate scheme with the best possible terms for you. We can also help you present these changes to your staff, as we have done for many of our clients already, so they understand, what is happening, why it is happening, the impact it will have on them individually and the potential benefits it will ultimately generate for them.
The value of pensions and investments can fall as well as rise. You may get back less than you invested.
We are happy to meet for a free initial consultancy either in person or remotely.