Auto enrolment services – What is it? Pension schemes and employee benefits

The corporate service proposition is for companies large and small who are both committed and serious about providing quality benefits for employees.

Happy staff are productive staff and any potential employee not only needs an attractive salary but also requires stable quality employee benefits. We are able to provide advice on your employee benefits and also advice on meeting your auto enrolment obligations providing advice and guidance on any current pension scheme or delivering a robust strategy on a new scheme.

We can also provide advice on director benefits including share protection agreements, cross option agreements, key man insurance and also bespoke pension solutions for executives and senior management.

If you are serious about your business then you need to be serious about the benefits you provide both to your employees and directors. We provide a consultative and advisory based approach to your business needs and welcome a call from you to discuss your options.

If you would like more information on Auto Enrolment and your obligations, we have also published this recent article:

‘Auto Enrolment and your obligations.’

Please call to see the availability of our initial consultation service.

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Auto enrolment – What is it?

For the first time employers in the UK are required to automatically enrol all eligible employees into a qualifying pension scheme which both employer and employees are required to contribute to.

Significant financial penalties are applied for all employers who miss their staging date as non-compliance is not a viable alternative to arranging an appropriate auto enrolment pension scheme.

First thing you need to do is find out your staging date from the pension regulator the following link will provide this information http://www.thepensionsregulator.gov.uk/employers/tools/staging-date.aspx after you have this date it is important to start planning how you intend to comply with legislation for assistance you are welcome to contact us.

Require more information on the above services? Click here to contact us, alternatively, you may also find our FAQ section below useful.

Call us on 02922 362015 to discuss your requirements

Frequently Asked Questions

We understand we need to comply with auto enrolment but we do not know where to start, can you help?

Yes we can help with your auto enrolment obligations in the first instance we would ask you to contact us to arrange a consultation as we need to discuss the type of scheme and service you require.

Auto enrolment is here to stay and there are numerous rules that you and your payroll function need to comply with in order to be compliant, the pensions regulator has already indicated that there are numerous punitive fines for those employers who do not embrace the auto enrolment legislation.

Can you help us set up a pension scheme for our key members of staff and executives?

We often arrange schemes for institutions that require more flexibility than a regular pension scheme, we are able to discuss more compelling pension strategies for those clients who have the financial ability to contribute significantly to their pension arrangements.

We are very happy to discuss group self-invested personal pensions (SIPPs) and small self-administered schemes (SASS) for those companies who want greater control over their pension assets.

For trustees of an existing occupational scheme we can discuss your options which can include the use of a trustee investment plan (TIPs) in order to deliver on your trustee mandate for scheme members.

We are a firm which has three directors and we are concerned about share protection should one of the directors die what do we need to consider?

Many companies have no protection in place should the worse occur, it is critical that all directors even family members who are co-directors have adequate share protection in place through a cross option agreement.

Should a director die and no formal share protection is in place the remaining directors could end up co directing a business with a director who they never intended to be running a company with and as a result can cause significant complications as the directors may have very different ideas on the direction the business should take.

Also it is important to consider key staff members should these key individuals fall seriously ill or have an accident that could mean the business will suffer significantly needing the business to recruit and train if possible a replacement all of which is a significant drain on resources the use of key man insurance can help alleviate some of these pressures.

Can I purchase a commercial property through my pensions scheme?

Dependent on the pension scheme you have yes you can purchase a commercial property through your pension scheme, you will need to have a self-invested personal pension (SIPP) or another scheme which will allow the purchase of commercial property.

The rules that govern the purchase of a commercial property though a self-invested personal pension are complicated and varied and it is vital you seek independent financial advice to achieve your goals.

We have an existing pension scheme would this suffice to meet our auto enrolment obligations?

Possibly, dependent on your pension scheme and whether it is registered as acceptable to meet your auto enrolment obligations it may be suitable we suggest you arrange a consultation with ourselves so that we can access your current pension scheme and investigate whether a more suitable and appropriate auto enrolment pension scheme is required.

We are considering putting employee benefits in place for our staff what do we need to do?

This is a great idea as happy staff are undoubtedly more productive and security offered via employee benefits like group life cover and group private health insurance can go a long way to offer significant advantages to your staff and your company.

Employee benefits can be extremely diverse and packages can be tailored to meet vast majority of what you would like to offer your staff. You should arrange a consultation with us so we can discuss your needs in greater detail.