View from the Cham­ber

The Oban Times - - NEWS -

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 membership@lochaber­cham­ber.co.uk.

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