The necessary advice
Whether you’re an employee or an employer the changes made in government legislation regarding auto enrolment for pensions affects everyone. This is no longer just an HR issue.
A simplistic way of looking at auto-enrolment for pensions is that it’s a program the government developed so to encourage saving and lessen paperwork for the employees that are eligible to be enrolled. From April 2012 companies with more than 50 employees received a staging date determined by the total number of employees in their largest PAYE scheme. Staging dates always fall on the 1st of the month and cannot be delayed or postponed.
Recent surveys suggest that many employers feel they do not know enough about the auto-enrolment to make informed decisions. SMEs have been warned that if they don’t act in good time to be ready for their “staging date” they may be left high & dry without a pension provider to support them – meaning they would be in danger of receiving a fine from HMRC for as much as £5,000 per day
The responsibility of complying with the legislation lies entirely with employers, so it’s important that businesses have the right information and access to advice. If you’re keen to know more about the process and wish to have an open conversation with professionals who have already effectively “staged” then join us for dinner on Thursday 27th February with Davidson Asset Management in central London.
Here is a helpful diagram from Davidson Asset Management for your reference
Click on the image for more details on the company. For more information or if you are interested in attending the dinner, please contact Arlene McCaffrey