Workplace Pension reforms require all employers to automatically enroll their staff into a qualifying pension scheme by the auto enrolment staging dates.
Where there is no scheme in place, you will need to set up a qualifying scheme and automatically enroll your employees in it. This is a major change to the UK pension framework and is being regulated by the Pension Regulator. You will hear from the Pension Regulator one year before your auto enrolment staging date, which is the date from which you must automatically enroll your employees into a workplace pension.
You should start your review process now. Do not wait until you receive your Pension Regulator letter as the earlier you start planning for this, the easier the transition will be. There are a number of employer duties that you must meet and failure to do so can result in heavy fines. gpfm financial planners are here to help you and we will provide an initial consultation meeting at our own cost to identify your needs in relation to Workplace Pensions and help you to meet your employer duties.
You must comply with the new Workplace Pension Legislation and we are recommending that you act positively and plan ahead to reduce administration and the risk of non-compliance. We will work with you to create a Workplace Pension solution that meets your recruitment and retention needs and reward your employees with the appropriate pension scheme.
We have a range of services to suit all budgets; ranging from an essential list of services to get you up to your Staging Date followed by some optional extras that can be useful for communication and employee engagement.
Contact us today to see how we can help you with your business’s Workplace Pension needs.