Auto Enrolment / Workplace Pensions

All pensions are not created equal. 

Auto enrolment legislation came into effect in October 2012.  Initially it only effected the largest of employers. Now, it effects all employers. 

It’s been quite a journey over the last few years, with the pensions on offer evolving to meet the demands of the SME market, and the contribution changes that have occurred. By the end of 2017 more than 7,000,000 workers had been successfully automatically enrolled... and more than 500,000 employers had completed their declaration of compliance. 

Understandably, many employers are looking for the simplest route to compliance, at a low cost. 

For some employers, however, it's more appropriate to give more thought to the offering you make to your staff, as it could prove a key factor when recruiting and retaining the best people. Whether it's an escalating contribution rate to reward loyalty, or a more sophisticated investment choice allowing your people to be more involved, to name just a few. 

Auto Enrolment / Workplace Pensions Boats Docked

At Parsonage we have an in-house research offer, who can develop questionnaires for your employees to help define what elements of a pension, for example, are important to them. Our independent financial advisers can then use the results to help identify the most suitable scheme to meet your company and your employee needs. 

What’s more, the auto enrolment market for SME's is now starting to include moving pension provider. 

Since auto enrolment began: 

  • the market has moved on massively,  

  • employer charges have changed,  

  • online functionality has increased significantly,  

  • and the investment funds now have a longer track record.  

So, if you are less than completely satisfied with your pension provider, we can undertake a review of the market on your behalf, and consider if there is a more suitable alternative now available.