Auto Enrolment Pension Services
Auto enrolment and Workplace Pensions
Auto Enrolment is a government scheme put in place to encourage people to save up for when they will retire through a pension scheme at work. All employers legally need to enrol their eligible employees into a pension scheme and if not done in time, it can lead to a lot of penalties.
What if I already operate a pension scheme?
If you already conduct a pension scheme for your employees, you need to make sure that it complies with the auto enrolment programme. Not all policies will meet the minimal criteria, and if your scheme isn’t enough, you’ll need to take action to ensure that it complies. Small businesses can use a standard scheme such as NEST and People’s pension. However, larger companies with more employees will need to speak with a pension provider to negotiate a deal to make their scheme compatible.
Leave it to Avantax!
Auto enrolment is a grey area, but we can help to determine whether it applies to your business or not, and if it does, who is affected and when you need to start acting. Our services are far more preferable to penalties and fines and will leave you with adequate knowledge on the impact auto enrolment has on your business.