Start preparing for the Future of Auto Enrolment, today.
Auto-Enrolment is here, there is no way to avoid it, by 2018 all businesses must enforce a pension scheme for employees, who qualify, with both employer and employee contributions.
Auto-Enrolment is when qualifying employees are automatically enrolled into the workplace pension scheme. Every company’s pension scheme can vary however there are minimum contributions, these are:
- 0.8% rising to 4% of qualifying earnings by 2018 contributed by the employee
- 1% rising to 3% of qualifying earnings by 2018 contributed by the you (the employer)
- 0.2% rising to 1% of qualifying earnings by 2018 contributed by the Government
Even though 2018 seems a long time away, Auto-Enrolment can be complicated and lengthy to implement, however we are here to make things easy for you.
Why not get a head start and let us take care of it?
Lsd Accountants can provide guidance and support along the way, starting from identifying those who will be affected, who will need to be auto-enrolled, communicating with staff to ensure that they are aware of what effects this has on them, planning, selecting an appropriate pension advisor, explaining the financial-impact and advising on salary sacrifice.
For more information and support regarding Auto-Enrolment give us a call and one of our team will be happy to help you further.
