If you’re an employer or employee you’ve probably noticed the rather colourful furry creature being ‘ignored’ on our TVs. He is, of course, the embodiment of the Government pensions legislation which requires every employer with at least one qualifying employee to set up an auto-enrolment Workplace Pension scheme, ultimately getting more people saving towards their retirement.
Fleet Workplace Pensions came about when we were asked to help our clients navigate the legislative requirements, assessments and implementation related to Workplace Pensions but we felt it didn’t require the level experience and fee structure as part of either CRK Accounting or Scott Financial Ltd.
Fleet Workplace Pensions combines the experience of Graham (co-owner of CRK Accounting) and Paul (head of Scott Financial) offering a more affordable pricing structure. In this way, clients benefit from fixed fee (based on size of business) safe in the knowledge that their Workplace Pension compliance is being managed and overseen by a team of financial and accountancy experts.
Unfortunately ignoring the Workplace Pension just isn’t an option and any employers failing to comply will be fined, or even jailed, so it’s important you establish whether your business needs to have an auto enrolment scheme in place and your correct Staging Date - as your scheme needs to be in place within 6 weeks of that date.
If any of your employees meet the criteria then you are required to enrol them on a Workplace Pension:
You will need to assess each employee for eligibility, set up an auto-enrolment compliant pension scheme, automatically enrol employees as they become eligible, manage opt ins and opt outs, provide statutory communications to employees and complete a compliance declaration to The Pensions Regulator.
You’ll also need to assess new starters, and monitor existing employees who may cross the age or earnings thresholds so your scheme will require on-going management. But if you don’t have the time or skills in house to initiate or manage your scheme, Fleet Workplace Pensions in Church Crookham can assist you with all your auto-enrolment set up and on-going responsibilities.
To find out if your business needs a Workplace Pension, establish your Staging Date or get help with either assessment or implementation, Fleet Workplace Pensions can be contacted via telephone, email or its website.
To find our more visit the Fleet Workplace Pensions website.