You will have heard or seen the adverts regarding workplace pensions. This means that, with very few exceptions, employers must register with a pension provider from the employee’s start date and enrol their employees, regardless of whether their employees wish to pay pension contributions.
Employees can subsequently opt out, should they not wish to partake in the pension scheme. Every employer can postpone paying contributions for 3 months from the employee start date. This is called the postponement date.
We provide an additional service to assist our clients with the auto-enrolment process, using NEST, the Government backed pension scheme. We deal with all matters on our client’s behalf to comply with the regulatory and payroll requirements regarding auto-enrolment.
Please note that we are not financial advisors and therefore you can investigate charges/performance of different pensions schemes and enrol with another pension provider if you so wish. It is important to acknowledge that if you do not register with a pension provider (either through NEST with us or independently) then you will be in breach of the pensions regulations and will be fined anything from £400 to £50,000 by the Pensions Regulator depending on circumstances.
