Auto enrolment

Auto-enrolment was introduced by the government to help people save more for their retirement. It affects all businesses that employ at least one person who isn't a company director. Failure to comply, could result in a business being fined up to £2,500 per day, so it pays to plan now.It means all eligible employees, between the ages of 22 and State pension age, will be enrolled into a pension scheme. Following enrolment, they can choose to opt-out of the scheme. As an employer, you will contribute toward employees' pension plans. Employees may also have to contribute depending on whether your payments alone meet minimum levels specified by the Pensions Regulator.