What pension schemes could I choose from?
The pension reform is specific about the kinds of pension schemes that ‘qualify’. It’s important that your chosen scheme qualifies, even if it’s a scheme your business has already had in place.
To qualify a scheme must:
If you would like to know how BlackStone Accountancy could help you to implement auto enrolment in your business, please contact us on 0800 043 3046.
- Permit automatic enrolment
- Enrol employees automatically within 3 months of joining
- Have a “default” investment option
- Recognise the likely characteristics & needs of employees
- Offer the appropriate balance between risk & return
- Have a glide path to safer assets as retirement approaches
- Meet one of the minimum contribution tests
- Have an opting out facility