Your turn for pensions auto enrolment?
The Government has decided that all UK employers must help their workers save for retirement. Employers now have to provide a workplace pension for all eligible jobholders. These people will be automatically enrolled.
Auto enrolment has now reached smaller companies like yours (<30 employees), so we have a service tailored for you.
We offer two routes to your auto enrolment (AE) scheme
– specially designed for smaller companies this combines a fixed price ‘off-the-shelf’ package with our expertise and support through set-up and beyond.
You focus on running your business – let us focus on the pension.
We take you through the whole process from start to finish.
We set up the scheme for you - unlike some online solutions where you have to work out everything for yourself!
– for those companies who may have more complex needs due to the nature of their business or personnel. Our advisers will take time to fully understand your particular requirements and recommend a suitable structure and scheme. We install it too and advise on cost savings and communications.
We have been trusted financial advisers since 1964 to businesses throughout our region - Hertfordshire, London, Buckinghamshire, Bedfordshire, Essex, Cambridgeshire and Northamptonshire - and hold the status of Chartered Financial Planners. Our advisers are experts who will guide you through the complexities of AE.
Auto enrolment is a complex process - many employers underestimate the size of the task they face to ensure compliance.
1. Find your staging date
2. Assess your workforce
3. Review your existing pension arrangements
4. Communicate progress and changes to your staff
5. Enrol the eligible employees
6. Register with the Pension Regulator and start to keep records
7. Contribute to your workers’ pensions
1. By April 2017 ALL employers will be required to provide a compliant pension scheme.
2. Employers must ensure they follow strict communication guidelines and ongoing compliance requirements.
3. Employers will be ultimately required to contribute a minimum of 3% of earnings.
4. Employers will need to deduct the employees’ contributions and send these to the relevant pension company.
5. New starters must be enrolled immediately or within 3 months (if using postponement).
6. Eligible jobholders will be aged between 22 and State Pension Age with earnings above £10,000 (2015/16 rates).
7. There are penalties for non-compliance.
We are employee benefit experts. We can help you position the new pension arrangement as a company benefit and can help you look at other benefits to reward and retain existing staff and to aid recruiting new talent to your business.
Fill in our contact form for further information on compulsory workplace pensions or phone us on 0845 308 1480
Many thanks for all your help and support. We really enjoy working with you.
BCS Accounting Ltd, Cambridge
We found the help and advice of RHG essential and very informative when planning the setting up of our auto enrolment pension scheme. RHG did all this work on our behalf and completed it in a professional and timely manner to our complete satisfaction.
Stephen Moore, Financial Manager,
The Caledonian Club Trust Ltd.
RHG, particularly Peter Murphy, guided us through our auto enrolment process. He was, and continues to be, a pleasure to work with and nothing is too much trouble.
I thank you for all your assistance to date Peter, and I look forward to your continued support through what seems to be an increasingly changing face of pensions.
Julie Barnes, Director of Operations & HR,
I would like to say a big thank you for the pension presentation, I have had very positive feedback from the staff, all of whom had their minds put at rest over the many issues raised.
Debbie Tidey, Chambers Coaches
RHG expert view
Small companies don’t have the same resources as larger companies. They need a simple, realistically priced solution where they don’t have to become pension experts themselves. Our Pension Scheme is designed for them.
Ian Jenkins APFS
Corporate Services Director
RHG auto enrolment blog
Richmond House Financial Services Limited (No 1842995) and Richmond House Investment Services Limited (No 01812617) are registered in England. Registered Address: Premier House, Argyle Way, Stevenage, Hertfordshire, SG1 2AD. VAT registration number 151 3296 28. RHG and the Richmond House Group are trading styles of both Richmond House Financial Services Limited and Richmond House Investment Services Limited, and RHG Investment Management is a trading style of Richmond House Investment Services Limited only. Both companies are separately authorised and regulated by the Financial Conduct Authority. The guidance and/or advice contained in this website is subject to the UK regulatory regime and is restricted to consumers based in the UK. The provision of advice to employers on Auto Enrolment is not a regulated activity. Further consumer advice is available from the Money Advice Service via this link www.moneyadviceservice.org.uk . The value of your investment can go down as well as up and you may get back less than you have invested.
Copyright Richmond House Group 2016