EVEN If you employ just one person... You have to do it!
The legislation that introduced Compulsory Workplace Pensions/Auto-Enrolment is now directly affecting SMEs. Implementation and employer contributions are a legal requirement: how ready are you?
There have been previous Government initiatives to get people to save more towards their retirement. The last attempt ("stakeholder" pensions) was voluntary and had a very poor response; this time it's compulsory and has a 90% take up.
If you are an employer with at least one employee you cannot avoid setting up a pension scheme that you and employees contribute to. Even though there is an "opt out" choice you still must set up the scheme and make an initial employer/employee contribution. Failure to set up a scheme can result in fines of £400 per day - there have already been companies suffering penalties.
We have a 20 years experienced in-house pension's expert; we can undertake the Auto-Enrolment and monthly payroll process for you. Contact us for our briefing note or to set up an initial no charge/no obligation discussion.
