Every so often government issues new regulations that we have no option but to adopt. When this happens we need to ensure that they cause minimum disruption to the business and take up the absolute minimum of valuable management energy.
At present, a new law is being rolled out across the country which means that every employer must automatically enrol workers into a workplace pension scheme. This is compulsory for all employees who earn more than £10,000 a year and are aged between 22 and State Pension age.
The new system has already been introduced for larger businesses and by 2018 every UK employer will have been brought on board.
Although the date that you begin enrolling your eligible employees may seem a long way ahead, you need to be thinking now about how you will meet your new obligations.
If you already have pension arrangements in place, do you know if they qualify as an automatic enrolment scheme? And if you don’t offer workplace pensions to your team, how will you go about implementing a scheme that is compliant with regulatory requirements and designed to deliver good outcomes for your workers’ retirement savings?
At Birchwood, our fully qualified team offers extensive experience in auto-enrolment and other occupational pension issues and is ideally placed to provide the expert advice you need.
By assisting with reviewing and upgrading pension schemes, or implementing new schemes, as well as with planning for the financial impact that the minimum employer contributions will impose on your business, our specialist team can take these issues off your desk and leave you free to run your business with minimum disruption.
To find out more about how we can help your businesses, please contact trevor.simms@birchwoodinvestment.com or call 01438 840888 to arrange a free, no obligation, initial meeting.