Company, Workplace and Auto-Enrolment Pensions
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The value of retirement planning
Pension legislation in the UK is in the process of undergoing the biggest change for decades. For the first time UK companies will be compelled to offer employees a pension contribution and each company will have to have a pension in place into which employees will automatically be enrolled.
This could be an existing or new pension scheme like a Group Personal Pension or Stakeholder pension provided it meets qualifying status. If you do not have a pension scheme in place or do not introduce one, you will be able to adopt the Government's scheme known as The National Employment Savings Trust, or NEST.
This legislation impacts all employers of all sizes and phasing started in 2012 and depending on the size of a company, a staging date will be set by which a scheme must be put into place.
While this can be seen as an additional burden on employers, it can also be seen as a valuable employee benefit as it can play an increasingly important role in attracting and keeping good members of staff.
A good company pension scheme will offer your employees security and reassurance. It is also extremely tax efficient for both you and your employees.
At Holcombe Financial Services we offer advice to employers on setting up company pension plans and already assist companies providing ongoing servicing of their company pension schemes.
As an added benefit, we are able to offer onsite financial planning meetings to both employers and employees in relating to all aspects of financial planning on-site, as and when required