Your workplace pension responsibilities are ongoing.
All employers are affected even those who only employ a few people. If you become an employer for the first time your duties begin immediately.
Mill Pensions has the knowledge and experience to help you understand your responsibilities and what you need to do to fulfil these.
You will need to make some decisions not least on whether you want to do the minimum amount to comply with legislation or whether you see this as an opportunity to engage with employees on their long term future planning to your mutual benefit including your business succession planning.
Whichever route you favour there is a lot to do, decisions to be made, communications for employees to be prepared, data to be provided and processes to be agreed with your payroll provider and chosen pension provider. Early planning may help you control costs.
Once your workplace pension arrangement is in place you have ongoing responsibilities including increasing minimum contribution levels and reenrolment every three years.
The challenges you face will depend on your particular circumstances such as:
Size of workforce, working patterns and staff turnover
Pension provider you choose, their data and process requirements
Your payroll provider, the data they hold and the processes they can support
Ongoing record keeping processes
Mill Pensions has the knowledge and experience to help you through any or all of these challenges as you require. You can choose from a range of services with a fixed fee which can cover implementation only or ongoing assistance if required.
In particular we can help you with all or any of the following as required:
Auto Enrolment
Re enrolment
Potential cost reducing strategies such as salary sacrifice
Understanding the advantages of employer contributions for Directors and Business owners.
Review of potential pension providers
Review of existing pension arrangements
Employee communications, statutory communications , additional communications
Employee seminars and question and answer sessions as required
Communications helping employees to appreciate your valuable contribution and plan for their retirement assisting your succession planning for the business.
Liaison with payroll provider and pension provider to set up or review appropriate processes
Payroll data cleansing as required
Pension arrangement implementation
Declaration of compliance
Ongoing assistance and monitoring of contributions, record keeping and queries
Annual compliance review
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