Workplace Pensions Compliance – 5 Essential Tips

Workplace Pensions aren’t an option and with the threat of big fines for those businesses who are non-compliant, it is vital you have a plan of action.

Here’s a few essential tips to ensure you’re on the right track:

1. Make sure you know your Staging Date and that you have started to implement an appropriate, compliant scheme at least 15 months ahead of this date.  If you’re not sure when this is for your business, we can help – www.ft-associates.com
2. Assess all your employees to see if they quality for Auto Enrolment.  There are certain criteria they need to meet in order to be eligible.
3. Ensure you have a written proposal detailing what is involved in running a compliant Workplace Pensions scheme.
4. Understand that using Salary Exchange can mitigate your costs in running your Workplace Pensions scheme.
5. Ensure that your scheme provides all the ongoing automated communications needed so that when an employee’s situation changes you remain legally compliant.

Many business owners assume the set up and management of their workplace pension scheme is being managed on their behalf by their accountant or payroll provider, but as this matter relates to pensions most are not qualified to deal with this matter.  As a business owner you are the one legally responsible to implement a compliant scheme.

If you are unsure where you stand and want to find out more about workplace pensions visit our website at www.ft-associates.com

For a limited time you can reserve your enrolment place for FREE.  To be eligible for this limited time offer your Staging Date must be after October 2015. Space for 100 businesses only. Registration deadline is 30 June 2015 - register today