Starting from October 2012, and being phased in over several years, any UK employer who employs at least one person has been legally obliged to:
The Pension Regulator (TPR) has powers to issue compliance notices to and impose penalties on employers who do not comply with their automatic enrolment duties, for example failing to automatically enrol eligible jobholders or failing to refund contributions to those who have opted out. So it’s important to get it right.
We can help take the headache out of planning and managing your auto enrolment scheme.
The following gives a brief summary of what is required for us to help you to get your workplace pension in place.
Charges for auto enrolment
All the Auto Enrolment pensions have a maximum annual management charge (AMC) of 0.75% what this means is that for every £100 in your pension the charge each year will be 75 pence.
Our charge in the first year will cover the set up cost and the cost of the annual review meeting; this can be paid as a monthly amount to spread the cost to the business.
Fees for Auto Enrolment may be adjusted in accordance with the Retail Price Index (RPI). The RPI is a measure of inflation and RPI rates are produced annually by the Office for National Statistics (ONS). Tariffs may be adjusted in accordance with RPI on 1 April every year.
GET IN TOUCH
To find out more about how we can help you, pop in to our Norwich office. Alternatively, we are happy to come and visit you in your Norfolk home or office. Just get in touch to arrange an appointment.