With the introduction of auto-enrolment in October 2012, every UK business (or employer) with at least one employee must now facilitate a workplace pension scheme. This includes defined contributions from the employer as well as a legal requirement to comply with an assigned staging date.
Kerr Henderson understands that for many SMEs and start-ups this legislation brings considerable administrative change and financial implications that may present them with unexpected challenges. In addition, non-compliance may lead to fines as imposed by the Pensions Regulator.
Forward planning and management of workplace pension schemes is essential. We recommend that all employers commence planning as soon as possible, as auto-enrolment not only impacts your existing pension arrangements but also Human Resources, payroll and other administrative functions.
Whether you have one employee or 250, these issues may also be significant for those employers who already provide pension arrangements. Kerr Henderson is here to provide guidance and expert support on your current requirements, whether you have any pre-existing pension scheme.
Kerr Henderson can help you navigate your way through the auto-enrolment challenge.
Visit our dedicated auto-enrolment website now and follow us on Twitter (@incorporateUK) for the latest updates on auto-enrolment and employee benefits.