The introduction of ‘auto enrolment’ from October 2012 imposed a whole new set of pension requirements, requiring all employers of any size to put employees into a pension scheme and make contributions in respect of them.
The requirements, rolled out between 2012 and 2017, covered the largest employers first, with smaller employers – including private individuals – commencing during the later stages. For most employers, it is not the cost of contributions which is challenging so much as the administrative complexity involved. The team at Arc Pensions Law has been advising on auto enrolment since its inception. Whether it is to support you in your advice to a client, or to help you understand how auto-enrolment impacts your own firm, we can guide you through the challenges such as:
- Who should auto enrol? The rules around identifying the relevant employees are very complex and may need to be tailored for each business.
- How much money can and should be contributed? There is a range of options and we can help you pinpoint what would work best for different make-ups of workforce.
- Where should the contributions be made? With our help, you can go through the right process and protect against problems from employees objecting to the choice made.
- What should employees be told? Communications can be the key to successful auto enrolment, and we can provide clear and complete communications that comply with the legal requirements whilst ensuring that employees understand what is happening. Whether you have been operating pension schemes for years or are a novice in the area, our helpful, pragmatic assistance will ensure that you navigate the auto enrolment requirements effectively and successfully.