Auto Enrolment


Company Pension Schemes enter site It is necessary for virtually all employers to enrol their staff into a pension and make contributions on their behalf Starting in October 2012, it became necessary for all employers to enrol their staff into a pension. This started with the largest companies and is being rolled out to all employers in size order with all companies needing to provide a pension to their staff by 2018.

سعر سبائك الذهب اليوم في السعوديه
  • As an employer you need to:
  • Automatically enrol staff into a pension scheme
  • Make a contribution on their behalf
  • Collect their contributions and pay into the pension scheme
  • Remove those who wish to opt out, but only once they have been enrolled.
  • There are strict time limits to all of the above and onerous fines for failure to meet these deadlines.

Preparation and Administration are Key.

watch تعلم تجارة الاسهم There is a massive burden on the pension industry to establish all these schemes, therefore as an employer you need to be highly organised and preferably have a scheme in place before you need to. السوق المالية السعودية مباشر

خيار ثنائي البيانات التاريخية As an employer, you are part of thousands of others that the pension industry needs to provide for in the next 3 years. The demand is massive and reports suggest it is unlikely the industry will be able to cope. However, fines will still be applied for those that do not meet the requirements. It is therefore vital you know:

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  • Your firm’s ‘Staging Date’ – the time you are required to have a scheme established for
  • The levels of fine you would need to pay by failing to do so
  • The contributions that the firm will be required to make – there are numerous ways of meeting these obligations so finding the most appropriate for your firm is important.
  • Which of you staff need to be automatically enrolled.
  • Having worked out the basis of your scheme, you then need to choose a pension provider
  • You also need an appropriate administration system in place to meet the ongoing requirements of auto enrolment. All of this takes time. With Lucent Financial Planning’s help, your firm can fully prepare for all of the above and have a pension provider that meets all of the firm’s needs in good time.

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