Understanding the impact of auto-enrolment on your business
Whilst auto-enrolment and the other new employer pension duties are compulsory, this does not mean they need to be a burden. Handled well, the new workplace pension requirements can help you create a valuable benefit for your employees that delivers real value back to your business.
Our experienced pension consultants can provide you with all the help and support you need to understand what you must do to meet the new automatic enrolment requirements, minimise the cost and disruption to your business and ensure that your employees understand and value your pension scheme.
Once you understand what you need to do, the first steps are to:
- identify your workers and classify them into the required categories - eligible jobholders, non-eligible jobholders and entitled workers
- estimate the financial impact on your business, in terms of the cost of additional contributions and meeting administration requirements
We can help you handle these first steps quickly and efficiently using our expertise and employer specific auto-enrolment net contribution calculator.
The next stage is then reviewing your existing scheme to assess whether it is the right one to use to meet your auto enrolment duties.
If you would like to talk to one of our pensions consultants about how we can help, please contact us on 0845 241 6500.
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