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For a lot of employers auto-enrolment has been seen as a big, expensive headache.
We have extensive experience advising on, implementing and managing a full range of Workplace Pension Schemes for a wide range of businesses varying in both size and industry. Whilst Workplace Pension Schemes are a legislative requirement, it is essential that such schemes not only meet your objectives and obligations as a business but are also on budget and deemed competitive to current and future workforce.
We can carry out a review of any existing auto enrolment schemes to ensure your implemented solution remains competitive and suitable to your business requirements. As part of this review we will analyse the scheme design and provider suitability, provide auto enrolment advice, review the scheme’s compliance, ongoing scheme administration and overall governance. We would also take into account any group risk or healthcare schemes you may also have in place.
There are a vast range of qualifying pensions schemes available to employers, however some of the common schemes include;
When establishing the most suitable solution for your business we take into account a number of key factors; cost, tax relief methods, compatibility with your payroll system, employee demographics and the HR objectives of your business.
When making the transition to a qualifying pension scheme, some businesses are left with a legacy pension scheme that is then closed for future contributions and new admissions. As part of this legacy transition process, we will recommend a suitable receiving scheme and default investment strategy for the transfer monies. We also compile all member announcements and subsequent material to ensure employees are fully informed of their options. Advice clinics are also available for businesses wishing to provide individual support to their employees.