You will have heard about Auto Enrolment but do you understand how it actually affects you?

20th April 2015

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We asked Martin Ward from Four Oaks Financial Services Limited to try and put it as simply as possible.

Auto Enrolment: (AE)

Over the next few years employers MUST set up an Auto Enrolment pension scheme. This is required even if eligible employees do not want to join.

The Facts:

Every employer must set up a scheme
Even if only 1 employee
Employees must join
Employees can then opt out
Fines will be charged if AE scheme is not set up
It can take up to 6 months to set up a scheme

Actions:

Find out your staging date

(The date by which your scheme must be set up)

Make your plans
Get advice

Four Oaks Financial Services have set up many AE schemes and for Best of Lichfield business members offer a free review so you can understand the rules and obligations.

So if you would like a review from Martin or one of his team then give them a call on 01543 401029.

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