“What is auto-enrolment, and what do I need to do?”
Workplace pensions have been a hot topic for a while now due to the changes in the law. Under the Pensions Act 2008, every employer in the UK must put certain staff into a pension scheme and contribute towards it, which will now affect every new employer!
If you employ even one person you are an employer and you have certain legal duties, regardless of whether you're a hairdresser, an architect or a multi-million pound business.
Below is the “Duties Checker”, provided by The Pensions Regulator, so you can check what you need to do and by when. This all depends on your circumstances and those of your staff.
Pension schemes come in all sorts of different varieties, each offering slightly different services so you may want to shop around to find the scheme that suits your needs best, however if you would like to discuss this in more detail, we can point you towards a pension specialist who will be able to help you determine which scheme fits what you are looking for.
The government have setup a scheme especially for auto-enrolment called Nest, and if you decide Nest is the right scheme for you, we can help you with the set-up and monthly processing.