Bespoke guidance on pension auto-enrolment from Myers Solicitors for just £500
28 July 2015
Pension auto-enrolment requires employers to enrol their employees into a qualifying pension scheme without employees having to take any action. If employers fail to comply with their duties The Pensions Regulator has the authority to take enforcement action and issue penalty fines of up to £2,500 per day.
Andrew Lowe, consultant at Myers Asset Management, outlines some the employer duties you must comply with.
“Employers need to initially assess the eligibility of all employees and categorise them according to their age and earnings. They then need to select the most appropriate scheme provider. The scheme needs to be in place by the staging date issued to you by HMRC,” explains Andrew.
“Once you have chosen your provider, and the scheme starts running, you will need to communicate the correct statutory notices to employees, maintain accurate records about contributions and opt outs. The Pensions Regulator will be keeping a close eye on the behaviour of employers, specifically prohibiting any coercing, investment advice or recruitment policies that encourage employees to opt out.”
To help employers understand their personal obligations, Myers Asset Management team are offering bespoke guidance for a set fee of just £500.
Myers Asset Management will support you with your regulatory requirements by ensuring that you have an appropriate qualifying work place pension scheme in place at the time of your official staging date.
- come out to meet you to discuss your responsibilities and requirements;
- recommend and set a suitable pension provider for your company;
- provide you with a written report with regard to the recommendation;
- speak to your employees on your behalf, if required; and
- provide an official letter to your employees that will explain the company’s auto-enrolment duties.
Myers Asset Management will charge a one-off fixed fee of £500 for the review, advice and support needed to get your workplace pension scheme up and running.
If you would like to arrange for a representative of Myers Asset Management to discuss your legal obligations with regard to auto-enrolment please contact Andrew Lowe on 01782 557233 email firstname.lastname@example.org
The contents of this article are for the purposes of general awareness only. They do not purport to constitute legal or professional advice, and the law may have changed since this article was published. Readers should not act on the basis of the information included and should take appropriate professional advice upon their own particular circumstances.