What is a Group Pension?
Group Pension Schemes, have been around for a very long time. It is where a small amount of money is deducted from an employee’s wage and directly paid towards their pension. But the law on workplace pensions has recently changed, making it the employer’s legal duty to ensure that employees are placed into a workplace pension, this is called auto enrolment.
What is Auto Enrolment?
Auto enrolment (workplace pension) is a legal requirement for all UK businesses or organisations that meet a certain criteria, as an employer you must automatically enrol staff who:
- are aged between 22 and State Pension age
- earn more than £10,000 a year
- work in the UK
Although it is automatic for your staff as they do not need to do anything, it is not automatic for you as an employer, as you must take the steps in order to set up auto enrolment of your employees into a workplace pension scheme.
We at De Beul Kerr have the expertise to help and guide you through the process of selecting the appropriate Automatic Enrolment solution for your business’s needs. We can take the headache of compliance and the minefield of legislation away from you as business owners and allow you to carry on doing what you do best…… running your business.