Automatic enrolment is a Government initiative to help more people save for later life through a pension scheme at work.
Automatic pension benefits for the employed
In the past, many workers missed out on valuable pension benefits, because their employer didn’t offer them a pension, or they didn’t apply to join their company’s pension scheme.
Automatic enrolment changes this. It makes it compulsory for employers to automatically enrol their eligible workers into a pension scheme. The employer must also pay money into the scheme.
Automatic enrolment is being phased in, starting with the largest UK employers. So if you’re eligible and haven’t yet been enrolled into your workplace scheme, you should be by October 2018, at the latest.
If you are an employer and have your staging date and would like some advice, or just some help in arranging a suitable AE scheme then we may be able to help. We are here to research the best scheme that suits your needs, implement a scheme that will work within your existing administration and help your employers understand their new pension arrangements.
It is our aim that once you have set up a scheme it will be viewed by all your staff as a valuable employee benefit.
The pension regulator has some helpful information to help employers, this maybe a good place to start if you want some further details.