As an employer you must offer a workplace pension by law. This is handled via one of the many operators, such as NEST pension.
Then pension system itself can be quite an ordeal to understand, however we here at Larsen Finance & Administration, have done a little guide and of course we are never more than a phone call or an e-mail away if your company consider outsourcing the hassle of managing the system and implementing it into your payroll workflow.
First, the scheme only applies for staff earning more than:
However, that does not mean you can't offer it - it's just not mandatory.
Also, as an employer you are by law obliged to inform the enrolled members of staff of certain things, most notably:
Most payroll systems can handle this as a part of the normal procedures of payroll, however, being a mandatory and regulated area, it is of utmost importance, that everything is setup correct and staff are informed according to their rights as secured by law.
Do you want to hear more about pension schemes or payroll, we can assist.
Contact us on the form below or give us a call.