Auto-Enrolment Hub
While there are many good reasons to have retirement savings, we know that pension coverage remains poor. In time, this could lead to a huge reliance on the State Pension. To encourage greater private pension take up, Auto-Enrolment is proposed as the new retirement savings system for employees. The Government intends to introduce it in late 2024 which means employers need to know their options and be ready. Auto-Enrolment should be a priority for all business’s but that doesn’t mean it needs to be complicated. Find more support information on Auto-Enrolment.
If you have a pension plan in place for your employees already
- Review it and get advice to see if it meets the requirements of new legislation being introduced.
If you don’t have a pension offering currently in place
- Consider the options available to you
- Put a private pension in place for your employees that meets the requirements
or
- Do nothing and introduce the State scheme when it comes into force.
There are pro’s and con’s to each option so knowing what is the best option for your business is something that needs careful consideration. As a business you will need to plan ahead, so ask yourself 3 simple questions:
- What demographic of employee does the business have?
- What is the criteria for participation to the scheme?
- How much will the business need to fund pension contributions next year?
Our advisors can answer your questions and guide you every step of the way.
Talk to us
Our pension consultants are available nationwide, to meet you, listen to your needs and talk you through the process.