Work Place Pensions – one of the biggest challenges for businesses
The days of choosing whether you provide your employees with work based pensions are now gone and under the new legislation, every employer in the UK will be required to provide a pension plan, and contribute to it, by April 2017.
It is not just the cost or providing the pension contributions, however, it is also the significant administration burden associated with setting up, administering and ongoing communications with employees that is putting a significant strain on businesses.
And if you don’t comply with the new requirements you could face a fine up to £5000 a day (more if you employ 500 plus employees)
As an employer, the need to take professional advice in relation to your pension obligations has never been greater. Even if you have an existing company pension scheme in place, there will still be additional duties and responsibilities you need to comply with.
Our FREE GUIDE – Workplace pensions automatic enrolment – Auto Enrolment Employer Summary
How can Forrester Boyd help?
In Forrester Boyd’s portfolio of businesses we have work place pensions covered –
- FB Wealth Management Limited is an independent financial advice company specialising in all aspects of workplace pension planning. They can advise you on what you need to do to be compliant, can provide you with appropriate and qualifying schemes, set up your scheme and advise on ongoing compliance.
- FB Wealth can also advise on and arrange separate schemes for business owners and directors and senior managers such as SIPP (Self Invested Personal Pensions), SSAS (Small Self Administered Schemes) and Key Executive Pension Plans.
- Dataplan Payroll Limited is our outsourced payroll service and can handle Auto Enrolment opt-in and opt outs plus the ongoing employee communications required.
If you would like advice on Work Place Pensions for your business call FB Wealth Management on
0333 11 222 11 or if you need support with Auto Enrolment as part of your payroll process,
call Dataplan on 03331 123456
FB Wealth Management Limited is authorised and regulated by the Financial Conduct Authority.