Auto Enrolment

What is Auto Enrolment?

As you will be aware, all employers will have to provide workers with a workplace pension scheme by law over the next few years. This is called ‘automatic enrolment’.

When do I have to take action?

This depends on how many people you employ and is called your staging date. You can check your staging date by visiting the Pensions Regulator website.

I already have a company pension scheme in place – Do I have to act?

If you already have a company pension scheme, we can review this for free to see if it meets the requirements.

Who will be auto-enrolled?

All workers who:
• are aged between 22 and the State Pension age
• earn at least £9,440 a year
• work in the UK

Why would I enrol early?

Besides avoiding the last minute rush and motivating employees, several of our clients enrolled ahead of schedule once they realised that the costs were lower than expected. For example, one client with 25 employees was surprised to learn that enrolling would only cost an additional £250 per month.

How can McPhersons Financial Solutions help me?

Our financial services business, McPhersons Financial Solutions,  are able to conduct the initial workforce assessments as required by the pensions regulator and then guide you through the entire process. The advantage to you is that we have been through the process many times before and can save you the costs of re-inventing the wheel!

Contact us now on info@mcphersons.co.uk for more information or call 01424 730000

For a no obligation first meeting at our expense, to find out how McPhersons Financial Solutions can help you, please contact us.

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