• SKD Financial
  • 1st Floor, Carrera House, Merlin Centre, Gatehouse
  • Aylesbury
  • Buckinghamshire
  • HP19 8DP
  • Tel: 01296-330555
  • Fax: 01296-398402

SKD Financial Services are independent financial advisers providing professional and independent advice on a broad range of financial services and products to both corporate and private clients alike




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Professional Partners

Government Pension Reform

 

Compulsory Pension Contributions - Can Your Clients Afford an Increase in Their Staff Costs?

The Government is proposing to bring in new laws from 2012 which will significantly impact on every employer in the UK.

The framework for these new laws is already in place in the shape of the Pensions Act 2008.

  • Employers will for the first time, be required to automatically enrol eligible employees into a pension scheme.
  • Employers will, for the first time, be required to pay pension contributions for any employee who join and stay in the pension scheme.
  • The Pensions Regulator will police and enforce these new laws.
  • Even if you have an existing workplace pension scheme, you may have to make changes so that it complies with the new laws.
  • Employers can either use their own pension scheme to comply with these new laws or rely on a Government built scheme - the National Employment Savings Trust (NEST) scheme.

 

The big question here is do your clients want to keep control of their employee benefits package or rely on someone else who knows nothing about their business, to do it for them?

How we can help 

As financial advisers with over 20 years experience in the pensions industry, we're familiar with the challenges that businesses will face in light of these new laws and regulations.

We can: 

  • Help your clients review their existing workplace pension scheme to make sure it will comply with, or exceed, the new requirements, or
  • If they haven't got a pension scheme yet, we can help you put one in place.

And we can help with arrangements such as salary exchange that can save you money and offset the impact that these new laws will have on their business.

What happens next?

It's up to you:

Your clients can wait until 2012 and let someone else, who knows nothing about their business, set up and run a pension scheme for their employees or

  • They can set up their own scheme and retain complete control over their benefits package.

 

These changes are not far away - don't let your clients leave it too late - recommend that they contact us now to arrange a consultation.

 

 

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