Evans Hart can provide assistance to businesses, both Companies and others, to help them comply with the obligations to their employees as set out in The Pension Act 2008.
These obligations are under the Auto Enrolment rules where that all eligible employees need to be joined to a qualifying workplace pension scheme where the employer contributes a minimum statutory payment for those employees. Employers are required to comply with these rules from their Staging Date and most businesses will have reached this Staging Date by the end of 2016.
The UK government has arranged a ‘default’ home for workplace pension schemes under the National Employment Savings Trust (NEST) but Evans Hart believes that this will be unsuitable for many employers. This will particularly be the case with those employers that understand the benefits to their business of making suitable and realistic provision for their workforce at retirement.
Evans Hart can offer an initial consultation with you to learn about the business, and its people, together with any existing pension scheme that may already be in place. At that consultation meeting, an adviser will discuss with you the advisory services that we can provide, both for the company and its employees. Once we have agreed with you which services you require, we will then provide you with you with an estimate of our fees for providing those services. If you decide to accept this, we will than ask you to sign a fee agreement to recognise that we have been appointed to provide those services required.
Once appointed, we will compare the various pension scheme providers offering these schemes with a view to identifying the most appropriate provider for you and your employees. We will then make a formal recommendation to you and discuss with you how you can meet your obligations to communicate with your workforce to make sure that they are all suitably informed.
There is quite a degree of process to be gone through to ensure that all of your statutory obligations are met and we would strongly recommend that businesses should start this process at least a minimum of 6 months in advance of their Staging Date. If any businesses are still unsure over when their Staging Date might be, please give us a call and we can probably help.
Please contact us as soon as possible if you would like our assistance in meeting your obligations.