01483715823 info@ifadirect.co.uk

Pensions

This is not intended to sell you the concept. If you are not already aware of the benefits of pensions for yourself and your colleagues then please do ring us on 01483 715823. But what is the pensions menu?

If you have something in place already

There have been enormous changes in legislation in recent years and you may need to review and perhaps change what you are doing to minimise the financial and legal risks. This will affect you whether you have an existing arrangement or not, and the process that is required of you is a minefield

You will undoubtedly have had to change it to comply with the new workplace pensions regime

We can arrange self administered schemes, top-ups, and schemes or other arangements to supplement the pensions cap for high earners.

But compulsory employer managed and sponsored pensions are coming

Workplace pensiions require every employer to set up, administer, and pay into what in effect will be a company scheme. Implementation will  be 2012 to 2019. As an employer are you including this in your budgeting. Do your employees know how much it is going to cost them ? What arer the pensions contributions going to cost you ? How much is all the admin and record keeping going to cost you?

When is this going to affect you ? Click here to find your timetable, how much is it going to cost, and how can this be phased in as well?

The autoenrolment minimum requirements are

(subject to start dates for individual firms as above)

                                                                           employer        employee

April 2018 to April 2019                                      2 %                  3 %

April 2018 onwards (all firms)                             3 %                  5 %

Employer and employee will both get tax releif on these figuree

These stautory minimums are based on mid band earings, not gross salaries

You, the employer, will be responsible for administering the workplace pnsiond (autoenrolment  accounts) for your employees, no advice will be available unless you appoint an IFA or other consultant to add that service - or you can invite us to set up a scheme, and have advice available for both yourself and your employees. But you really need to be finding out about it now.

There is of course a lot more than this, tax reieif, terms and conditions of employment, employer take on all or part of employees contributions and a lot more. If you do not know about it then you do need independent financial advice now. If your existing advisors have not kept you up to date over the last couple of years why not?

Seek information and advice from us now.

APFA

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