Work Place (Auto Enrolment) Pension
Over the past couple of years, the government have passed legislation requiring all employers, even those who employ only one individual, to have an auto enrolment work place pension in place. This offers employees the chance to start a pension that is partly contributed to by their employer. At the same time, the employees contribute a portion of their salary each month into the pension and benefit from the relief on their contributions.
All employers are set a date by which auto enrolment pension must be in place (their staging date). It is easy to find out your staging date here . Failure to hit this date could lead to heavy fines and/or administration complications for your business.
Auto enrolment is compulsory for any business; however, employees can opt out of this pension at any time.
Here at People and Business we offer independent advice and guidance on how to put a work place pension in place within your business and the benefits that it offers. We can deliver a service tailored to your business needs or offer a solution to fulfill your legislative obligations.
If you require any further information or have any enquiries, please contact us; we are here to help. Click here.