Workplace pensions are a legal requirement for all UK businesses no matter how small. Since 2012 more than 8 million people have been automatically enrolled into a workplace pension by their employer.
With auto enrolment contribution levels set to rise on 6 April 2018, it’s more important than ever that small businesses improve pension awareness to prevent employees opting out of the company pension scheme. To help you do this, we asked Steve Butler, CEO, Punter Southall Aspire to reveal his tips on how you can help ensure how your staff continue to save for their retirement. (more…)
Significant changes to UK salary sacrifice schemes have now been implemented. Affecting both employers and employees, these changes essentially remove the tax incentives of many of the benefits in kind (BiK) offered under salary sacrifice arrangements.
With, the new salary sacrifice rules reducing the tax benefits of salary sacrifice schemes, here’s what small businesses need to know about the changes and how they affect employers and employees. (more…)
If you work in the world of hairdressing you’ll know a lob from a wob, just like plumbers know the difference between an angle stop and a capillary connector.
For those of us who don’t work in these industries it’s complete gobbledegook. What are they talking about?
The pension industry is one place where jargon is rife, but it doesn’t have to be this way. With auto enrolment pension schemes meaning more employees taking out workplace pensions, we asked Paul Budgen of NEST, which has been set up by the government especially for auto enrolment, to outline the benefit of jargon-free pensions communications. (more…)
With auto enrolment now well into its fifth year, you’re likely to be familiar with the workplace pension reforms and what they mean for you and your workers.
What some employers may not have thought much about is that, as a result of auto enrolment, millions of workers are getting a stake in companies around the world.
Choosing a pension scheme that invests your employee’s pensions suitably is therefore something every business owner will want to do.
The roll-out of auto enrolment is well into its fifth year. Having started with the largest organisations back in October 2012, it’s now the turn of small and micro sized employers.
If you’re one of these, you’re in good company. During 2017, hundreds of thousands of organisations just like yours will need to get to grips with auto enrolment.
If you aren’t sure what it means for you and your workers, this step by step guide to Automatic Enrolment for small businesses, will put you on the right path.
Figures from The Pensions Regulator (TPR) reveal that more than 95 per cent of the small employers required to put their staff into a workplace pension by June 2016 had complied with the law.
To the end of September, almost 257,000 employers had completed their automatic enrolment duties and enrolled over 6.7 million workers on to an auto enrolment pension scheme.
During the first quarter of 2017, the automatic enrolment legislation will step up a gear as more than 1 million small businesses will need to meet their automatic enrolment duties. And so with a busy time ahead, we asked Caroline Bateman of Enrolsme to offer her tips on how small business can set up an auto enrolment pension scheme in 2017, ‘stress free’; (more…)
As smaller businesses prepare to put their plans for 2017 into practice, there’s one thing that should be on almost every small employer’s radar. I’d say auto enrolment is one of the most important things that employers right around the UK must deal with in 2017, it’s both a legal duty and an important staff benefit.
So what should be part of your auto enrolment thinking in the new year? We asked Paul Budgen of NEST, which has been set up by the government especially for auto enrolment, to share his insight and advice at this crucial time. (more…)
For many small employers, providing a workplace pension, because of Automatic Enrolment, will be brand new territory. With a wide range of providers to choose from, where do you begin? How do you narrow it down and make your selection?
It’s a similar process to hiring a new worker or signing up a new supplier. You look for signs of quality, assess whether they’re suitable for your company and a ‘good fit’ for your team.
So if you are looking to choose a pension provider for your new auto-enrolment pension scheme, here are five things to bear in mind when making your decision; (more…)
As we approach the fourth anniversary of auto enrolment, it seems that smaller employers are, for the most part, smoothly adapting to providing workplace pensions. However, some small businesses are struggling with some aspects of how auto enrolment works.
To help make sure you don’t get caught out by the common auto enrolment problems, we asked Paul Budgen of NEST, which has been set up by the government especially for auto enrolment, to share his advice on the five auto enrolment issues that business owners are asking about. (more…)
Many small business owners are now tackling Auto-Enrolment for the first time. The subject is throwing up lots of questions, and with deadlines looming, small businesses need to ensure they get their Auto-Enrolment Pension Scheme in place in time.
To help, we asked Paul Budgen of NEST, which has been set up by the government especially for auto enrolment, to answer 5 of the most common questions small businesses are asking about auto-enrolment pensions; (more…)
Automatic enrolment is looming large on the horizon for hundreds of thousands of small businesses across the UK.
With many small firms unfamiliar with company pensions, tackling auto enrolment (AE) can feel daunting, so this guide has been designed to help small business owners get to grips with the subject.
It outlines they key issues for small businesses, including what auto enrolment is, what’s happening, the implications for you and your employees and the steps you need to take to ensure you comply with the new rules.
As 2015 progresses, increasing numbers of small and medium sized businesses (SMEs) – those employing up to 30 members of staff – are getting closer to their automatic enrolment staging date, where they will be required to enrol staff into a workplace pension scheme.
Hundreds of thousands of small employers across the UK will have already received letters from the Pensions Regulator (TPR) telling them of their Automatic Enrolment duties as an employer. However many small businesses still don’t know what they need to do. (more…)