What we do - employer responsibilities
In general, people are living longer and are likely to enjoy a lengthier retirement. However, many people are not saving at all, and those who are saving simply aren’t saving enough. The Government has passed new legislation to ensure that this changes.
From October 2012 and over the following five years, all eligible employees will need to be automatically enrolled into a Qualifying Pension. This should take place through the employer’s own pension arrangement or a “qualifying” alternative. In addition to this responsibility, the employer will need to make minimum contributions. To do nothing is not an option!
The Pensions Regulator has stated that as an employer, even if you already offer pension arrangements, there are new obligations to meet to ensure you’re offering a qualifying scheme.
We will assist you in checking whether your pension meets the conditions and determine whether the scheme is appropriate for automatic enrolment.
If you have no arrangement in place and are concerned about the cost implications, we will discuss your options and advise on the most cost effective method.
For further information about fulfilling your legal liability, please contact our team or click the following link: www.grapeautoenrolment.co.uk
RISK WARNING: A PENSION IS A LONG TERM INVESTMENT. THE FUND VALUE MAY FLUCTUATE AND CAN GO DOWN. YOUR EVENTUAL INCOME MAY DEPEND ON THE SIZE OF THE FUND AT RETIREMENT, FUTURE INTEREST RATES AND TAX LEGISLATION.