If you employ one or more staff, you are now required by law to automatically enrol employees into a workplace pension by 2018 and for the first time, will also be required to pay pension contributions for any employee who joins and remains in the scheme.
Auto-enrolment legislation is relatively complex and the requirements it imposes on businesses that employ people will be considerable.
To understand the various aspects of the new pension legislation we have produced a guide to auto-enrolment which is free to download.
The guide is not a technical guide, it is written to provide a ‘top-level’ outline of all the key factors and to suggest how employers may best deal with the new legislative requirement.
Financial Planning and Employee Benefit services are provided by S-Tech’s sister companies Alan Boswell & Company Ltd and Alan Boswell Employee Benefits Ltd.
Their specialist teams provide a wide range of clients with financial advice on investments, pensions and other key financial areas. Furthermore, their philosophy mirrors that of the Group; they work to maintain long-term trusted relationships between their clients and their high calibre, qualified independent financial advisers – all supported by teams of efficient and professional staff.
We recommend the starting point for your AE journey is finding out when your business is due to join the auto-enrolment scheme. To do this visit The Pensions Regulator.
Using our knowledge and expertise, we can help you to:
We have a wealth of expertise in this challenging area and have a team dedicated to supporting businesses needing help with auto enrolment. They include advisers specialising in this complex area, a support team and designated project managers, ensuring that someone is always available to provide assistance.
We can offer a service tailored to your needs, varying from a bespoke project management system to a ‘How to’ manual, which will guide you through the whole auto enrolment process.
Alongside our free guide we have prepared a comprehensive self-service manual.
This “How to” manual covers the many aspects of automatic enrolment in terms of the practical application of the legislation, to enable an employer to meet their responsibilities. Additional support is available on a time cost basis, if required.
We offer access to our manual for a fixed fee of £250 (plus VAT). This will include access to any updates to the manual.
We are able to offer various options to help you on your AE journey
A complete ‘end to end’ solution. Hand-holding you all the way from the initial preparation phase to the Declaration of Compliance, which must be completed, at the latest, five months after your staging date.
We also offer access to an ongoing review service to ensure you continue to comply with the new legislation in terms of on-going governance requirements and triennial reviews.
We charge a fixed fee, the cost of which will depend on the complexity of the work required. An individual quotation will be provided.
Our current hourly rates:
We will agree the cost of the review service with you.
£900 per day/£450 half day (plus VAT): consultancy support, staff workshops, seminars, individual meetings.
The government has created three categories of workers with different rights.
These categories are: eligible jobholder, non-eligible jobholder and entitled worker.
Many people will be ‘eligible jobholders’, which means they are aged between 22 and State Pension age and earn more than £10,000.
All ‘eligible jobholders’ will be automatically enrolled into the pension scheme. We can confirm what applies to the different categories of workers at your business.
Both the employer and the employee will need to contribute into the pension plan. You will need to write to your employees before this happens to tell them when the contributions will start. This is something we can assist you with.
As the Coronavirus pandemic continues to dominate headlines, our Group Protection teams have been busy understanding the implications of the virus on the protection markets and what businesses need to consider for their scheme members