Corporate pensions
Auto-enrolment
We can work with you to ensure your business is compliant with the obligations to its employees under The Pension Act 2008. These obligations relate to the Auto Enrolment rules which state that all eligible employees should be enrolled onto a qualifying workplace pension scheme where the employer contributes a minimum statutory payment to the pension fund.
The UK government has established NEST (National Employment Savings Trust) as the home of workplace pension schemes. However, in some cases we may advise that this is not the best solution. In order to make the best provisions for your employees, your Falco IFA (Independent Financial Advisor) will get to know your business, its people and organisational structure before making recommendations relating to auto-enrolment.
Providing you are happy to proceed, we will then approach pension scheme providers and insurers in order to find the best home for the auto-enrolment pension scheme. We will provide you with a formal proposal and advise you on how best to communicate with your workforce to make sure that all staff are properly informed.
SSAS
An SSAS (Small Self-Administered Scheme) is a more complex company pension scheme, the members of which are usually limited to directors and key employees of the employing company in question. SSAS schemes allow a lot more flexibility and control over the investment policies relating to the pension scheme, while still being subject to the same rules relating to contributions and benefits as a normal company pension scheme.
Only one SSAS scheme is allowed per employer, the scheme should have fewer than 12 members and there are sometimes limits on the amount of investment.
Whatever your corporate pensions queries, contact us now to discuss your situation and receive expert independent advice on your options, with no obligation to proceed.