Back in 2012, a new law was introduced meaning millions of working people are eligible to start saving for the first time in a workplace pension. You may already be doing this; if not, you will be affected if you have employees:
22 or over and under State Retirement Age
Over minimum eligible income – currently £10,000 pa
Working in UK and not in other qualifying scheme
However, other categories of employees must also be given the opportunity to join your scheme if they wish, so it is required that you have one in place.
Without a proper Auto-Enrolment scheme, your business could be facing fines from £50 to £10000 per day depending on your size along with an immediate £400 fixed penalty fee. With that in mind, AHFS offers comprehensive advice on Auto-Enrolment including informative employee seminars, or a guided online route for smaller companies.
So stay compliant while keeping your employees happy and informed with Auto-Enrolment consultation from AHFS.