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Pension regulator

16/12/2015

There has been a lot of coverage in the news in recent months about changes to the law on workplace pensions.  You may think – “I’m a small business and I only employ one or two people so it doesn’t affect me”.  Think again!  Whether you are a gardener, builder or solicitor, a large or small company, the fact is that if you employ at least one person you are an employer and you have legal duties!  As a result under the Pensions Act 2008, you as an employer in the UK must put certain staff into a pension scheme and are responsible for contributing towards it.  This is called “automatic enrolment”.

What you do and by when will depend on your circumstances and those of your staff so it’s vital that you are aware of what you need to do and when.   It’s important that employers also understand their role in providing a quality pension scheme which can vary depending on the type of scheme you’re involved in. 

There are a range of resources that have been provided to guide you through this process.  For more help, visit the pension regulator website:-

 http://www.thepensionsregulator.gov.uk/en/employers/duties-checker/outcomes/i-am-an-employer-who-has-to-provide-a-pension/choose-a-pension-scheme-or-check-your-existing-one/#s9472

 You will see a list of providers and can select one of these.

 Please also review the following link and download the following.

http://www.thepensionsregulator.gov.uk/employers/reviewing-a-scheme.aspx