Auto-enrollment pension schemes in the UK are regulated by The Pensions Regulator, and there are penalties for employers who do not comply with the auto-enrollment requirements. These schemes aim to increase retirement savings and help individuals build a secure financial future for their retirement years. This affects every employer in the UK, even if you only have one member of staff.
Although it will be ‘automatic’ for employees, it will not be automatic for you as an employer. You will need to take several steps to set up a pension scheme and make sure your eligible employees are enrolled.
With our knowledge and experience we can help you to meet your legal requirements as an employer, saving you time to concentrate on running your business.
Pension Scheme Set Up
We offer a full Pension Scheme set up and implementation, including:
- Letters to all employees informing them if they are eligible or not, and options available to them
- Assessment of all employees
- Enrolment of employees
- Registration and setup of your pension scheme
- Declaration of Compliance to The Pension Regulator
Up to 9 employees £150
10+ employees £195
*Prices quoted are for the NEST Pension scheme and for Precision Payroll Services clients only. Non client prices from £250 subject to quotation.
Please note we are unable to give advice on choosing a pension scheme.
Ongoing monthly reporting Pension Service
We offer a full pension service, which includes:
- Enrolment of all eligible employees into your chosen pension scheme provider
- Reports of contributions due
- Employee/employer contribution deductions via payroll
- Employee communications
- Your pension contribution file uploaded to your pension provider
- Ongoing assessment of all employees and new starters to ensure you are in compliance with pension criteria
Pricing from £7.50 per person per month.