Help­ing you get to grips with auto-en­rol­ment

The Oban Times - - News - with Iain Cairns

Work­place pen­sions are un­der­go­ing a revo­lu­tion. Au­to­matic en­rol­ment has not only changed the UK pen­sions land­scape, it has also placed new obli­ga­tions on em­ploy­ers. If you run a com­pany with one or more em­ploy­ees, auto-en­rol­ment will af­fect you and you should be aware of these changes. So what do you need to do? Un­der the new leg­is­la­tion, ev­ery em­ployee will be en­ti­tled to save into a qual­i­fy­ing work­place pen­sion. As their em­ployer, you will be re­spon­si­ble for or­gan­is­ing a suit­able scheme that meets cer­tain key cri­te­ria. It is im­por­tant to al­low plenty of time to pre­pare for auto-en­rol­ment. The Pen­sions Reg­u­la­tor sug­gests em­ploy­ers al­low at least 12 months be- fore their “stag­ing date”. You can find out your com­pany’s stag­ing date by en­ter­ing your PAYE ref­er­ence into the stag­ing date tool on the Pen­sions Reg­u­la­tor’s web­site at http://www.thep­en­sion­sreg­u­la­ Auto-en­rol­ment presents new chal­lenges for Bri­tish com­pa­nies. You need to make the right de­ci­sions, not only for your em­ploy­ees, but also for your busi­ness. Ar­gyll Fi­nan­cial Ser­vices can help you to un­der­stand your com­pany’s move to auto-en­rol­ment, en­sur­ing a smooth tran­si­tion and a pos­i­tive out­come for you and your em­ploy­ees. If you have any ques­tions on auto-en­rol­ment or would like to know more about how we can as­sist you and your em­ploy­ees, please do get in touch.

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