From October 2012, all employers have had to comply with legislation contained within the Pensions Act 2008. Many have now done so and “staged”, but as a reminder, it is important to keep these arrangements under review and understand your duties.
As an employer you must:
- Provide the required information on the pension scheme to employees.
- Automatically enrol eligible employees in a qualifying pension scheme.
- Deduct any jobholder contributions from their salary and pay a contribution on behalf of an eligible member.
- Process any opt outs and refunds.
- Review any existing schemes, to satisfy the definition of a qualifying scheme.
At Beckford James we can help you assess your options, review your workforce/pension costs, review your existing scheme or implement any recommendations. If you would like further information or a copy of our free guide to employer duties, please contact us at AE@beckfordjames.com