Auto Enrolment and Workplace Pension Advice
At Churchill Wealth Management we provide assistance to UK companies and we’re able to help them comply with the obligations to their employees as set out in The Pension Act 2008.
These obligations fall under the auto enrolment rules which state that all eligible employees should be joined to a qualifying workplace pension scheme where the employer contributes a minimum statutory payment. Employers are required to comply with these rules from their staging date.
Whilst the UK government has established a home for workplace pension schemes under the banner of NEST (National Employment Savings Trust), we believe that in many instances this solution is not the most suitable for some employees wishing to start an auto enrolment scheme.
An ideal corporate client for us to work with understands the benefits of making suitable provision for their workforce at retirement.
At the meeting we can discuss the range of advisory services that we can provide for both the company and its employees. Once we understand which services the client wishes to take up we can provide an estimate of our fees.
We will then approach pension scheme providers and insurers from the market in order to find the most appropriate home for the pension scheme. We can then provide a formal recommendation and discuss how we communicate with the workforce to ensure that all staff are suitably informed.
Many of the business that we engage with do not need to comply with auto enrolment for some time. Having conversations now and putting plans in place well in advance of the changes will help with impact on cashflow and avoid any potential administrative or payroll issues.