We have experience of stakeholder pensions, various company pension schemes and the NHS pension scheme, and are able to be as involved as required in the administration and local management of any pension scheme, including providing monthly and annual reports and updates, ensuring that individual employees are correctly identified and have deductions made at the correct rate.
If you do not yet operate a workplace pension scheme, under the government’s new rules on auto-enrolment into workplace pension schemes, you may have to. More information is available from the Pensions Regulator http://www.thepensionsregulator.gov.uk/
The Pensions Act 2011 includes provision to accelerate the State Pension Age to 66, introduce changes to the automatic enrolment regime, amend the definition of money purchase benefits, and make amendments to the revaluation and indexing legislation.
The provisions changing the State Pension Age and those regarding surplus payments came into effect on 3rd January 2012. The rest of the changes will be phased in, and in relation to automatic enrolment, large companies will have to comply from October 2012, and smaller companies will have a staged start between April 2015 and October 2017. The actual date for each business will be set according to the employers PAYE reference and will not be negotiable.
If you have any worries about complying with this new law, please contact us for advice.