View from the Chamber
FOR MANY small businesses, including Lochaber Chamber of Commerce, it is time to choose an automatic enrolment pension scheme for employees (as required by the Pensions Act 2008).
All businesses should have received a communication from the pensions regulator with instructions on how to go about choosing a pension scheme. The government has set up a pension scheme that businesses can use, NEST, which is free of charge. However, there are other pension schemes available. A list of these can be found on the pensions regulator website.
Once your business has selected a pension scheme, it is important to begin a ‘declaration of compliance’ to ensure the business does not incur a fine. If you are unsure about your obligations as an employer, seek professional advice or get in touch with the pensions regulator directly.
Your business could be fined if you do not comply.
If your business is not yet a member of Lochaber Chamber of Commerce, find out more about how membership can benefit you by contacting membership and events officer Fiona McCormick on 01397 705765 or email email@example.com.