‘Don’t’ Ignore Auto Enrolment
You will no doubt have seen the recent ‘Don’t ignore it’ Auto Enrolment campaign from the Pensions Regulator declaring ‘whether you’re a hairdresser, an architect or employ a personal care assistant, if you employ at least one person you are an employer and you have certain legal duties.’
Employers must now provide a workplace pension for their staff and contribute towards it. However for some, dependent on circumstances, Auto Enrolment duties may not apply.
For any businesses who may be confused by the new regulations, or just want to make sure you understand the rules and have your plans in order, Clarke Nicklin Financial Planning are offering a ‘free business pension review’ to assess and advise you how to deal with the requirements.
Even if your staging date is not be for a while, there is still a need to plan early. Accountancy Age state ‘The number of employers forecast to stage over the next year will increase 11-fold leaping from 46,300 this year to 512,000 in 2016.’ Such a surge proposes a big issue for pension providers in terms of their ability to deal with demand, and as a cost to them for required resources. We are aware of pension providers starting to bring in fixed additional charges to the employer as a result.
Even if you have an existing non-Auto Enrolment pension scheme in place, it may not comply with the rules, or the pension provider currently operating the scheme may not want to take on an Auto Enrolment scheme.
We are therefore advising that you get ahead of the game! ‘Don’t Ignore’ Auto Enrolment and take advantage of our free pension review
For your free review please either contact Kath on 0161 495 4700 katha@cnfp.co.uk and we will organise a time convenient to yourself.
