Are you aware of the new legislation relating to Workplace Pensions? This new legislation is called auto-enrolment and it is very important for employers.
What is Auto-Enrolment?
Auto-enrolment is short for automatic enrolment. This describes the process whereby employers are going to have to put in place pension arrangements for their employees, make contributions, ensure compliance and then, in the future, manage the administration and records that go with this.
The legislation is now active, but the full impact is slowly being spread out over the next five years or so, with different employers being affected at different points.
What do you have to do?
One of the lesser known aspects of the new legislation is that employers are required by law to provide the right information in writing, to the right individual at the right time, so that their employees know how automatic enrolment will affect them.
To learn everything you are required to do, it is worth seeking advice.
Where can I seek the best advice?
At Get Financial Advice we specialise in Auto-Enrolment.
We have produced a guide to Auto-Enrolment for employers. Our guide will help you understand:
- Exactly what you have to do and when
- How you have to communicate the new rules to your employees
- What to do if you have an existing employer pension arrangement in place
- What to do if you currently have nothing in place
- How you can access help to deal with the administrative burden
- How you can create the best outcome for your employees and make this a truly positive employer/employee arrangement
If you would like a copy of the guide, send us an email at: email@example.com and we will send you a copy.
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