All employers are obliged to establish a Workplace Pension scheme and to Automatically enrol their Eligible jobholders into the scheme from their Staging Date.

As Workplace Pensions and Auto-enrolment specialists, our objective is to offer an holistic service to Small to Medium size Enterprises (SME’s). Our aim is to ensure that SME’s are able to fulfill their new “Employer Duties” efficiently and with the minimum fuss. We will work with you to develop a solution which meets the needs of you and your employees. This will ensure that you are ready to act on your Staging Date.

Compliance with your new Employer Duties is a Ten Step Process:

  1. Determine your Staging Date
  2. Nominate a Point of Contact
  3. Create an action plan
  4. Assess your workforce
  5. Confirm the of your Pension Scheme design
  6. Select a suitable Provider.
  7. Confirm your Default Investment Strategy
  8. Tell your employees what is happening.
  9. Automatically-enrol your Eligible jobholders.
  10. Pay contributions

Once you have set up your Workplace Pension Scheme you will the have a number of further actions to take.

  1. Complete your Declaration of Compliance for The Pensions Regulator.
  2. Refund contributions to employees who Opt-out
  3. Collect contributions from employees who Opt-in

Thereafter you must continue to comply with your Employer Duties

  1. Maintain Records
  2. Continue to assess your workforce every pay reference period
  3. Re-enroll any Opt-outs every 3 years
  4. Comply with any future changes to the legislation

 

 

Frequently Asked Questions

The concept of a Workplace Pension Scheme was introduced by the Pensions Act 2008.  All employers in the UK are required to establish a Workplace Pension Scheme on their Staging Date.  On you Staging Date and each subsequent Pay Period you must carry out an Assessment of your employees.  The employer must deduct a contribution from the earnings of all their Eligible Employees and pay this to the scheme along with an employer contribution.   A process called Automatic enrolment.

mcleanThe current team at Corporate Benefits Consulting have had MacLean Electrical as a client for around 10 years now and over that time we have got to know them well.

Our Client Manager Maureen Ruddy, has guided our ever- expanding company through the pensions minefield of the last decade, offering advice which culminated in us closing our Final Salary Pension Scheme in 2007 and then going on to establish a new GPPP for all employees. Corporate Benefits guided us through this complex situation and continue to act as advisers to both the Trustees of the closed FS Scheme and also to the individual Members of the new GPPP.

At MacLean Electrical we feel it is important to get to know our service providers so that they can understand our business well enough to allow us all to work together and utilise all of our time effectively. In this way, Corporate Benefits have assisted us greatly by removing a large proportion of the day to day administration burden of running our schemes and they have also been of great assistance in guiding us through the various legislative changes experienced by pension schemes over the last decade and of course beyond.

The experienced team at Corporate Benefits is worth considering if you are a business who needs sound, relevant and effective advice regarding your Pensions and Employee Benefits packages and I would have no hesitation in recommending Corporate Benefits to you.

Gordon CarswellFinance DirectorMaclean Electrical