If you have a Staging Date less than six months away and you haven’t started making arrangements for your pension scheme you may find that you can’t meet the deadline.
Many pension schemes are not accepting employers with only a few employees and therefore there are a limited number of schemes to choose from. The FSB have a scheme with Scottish Widows but outside of that your choice will be Now Pensions, The People’s Pension or Nest. They are all suitable low cost pension schemes for the employer but with thousands of employers reaching their Staging Date each month over the next 2-3 years they will struggle to keep up.
The best option is to get organised now. Get your scheme in place and leave it dormant until your Staging Date. The process for setting it up is available on The Pension Regulator website if you have time to follow your way through it and understand what you are reading and what you need to do.
The other alternative is to ask someone who know what they are doing to do it for you. We have thoroughly researched all the pension schemes available for small employers and have a cost effective administrative service which will see your scheme set up with ease and managed for you on a monthly basis.
We work with small employers to make life easier for them and to take away the pain of dealing with the additional burdens imposed on them. Contact us with details of your Staging Date and number of employees and see how easy and time saving it will be for you.
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