Company Pension Fund
As soon as you know you want to hire your first employee, you should start preparing for this to determine what you’ll need to do. If you’re an employer with at least 1 member of staff, then auto-enrolment laws will apply to you
How do I choose the right cover?
You will need to assess your workforce to help figure out what pension you’ll need to offer. Use your payroll and HR department or whomever deals with this side of your business to find all the information for you to accurately assess which scheme works for your business.
What Does a Pension Fund offer?
You have a responsibility to offer each of your workers the option to join a pension. There are also two types of jobholders you must consider when setting up your pension scheme. Eligible jobholders and non-eligible jobholders, of which the eligible job holders must be auto enrolled and non-eligible jobholders must be offered the information about opting into your schemes or an alternative scheme. If a non-eligible jobholder opts into your auto enrolment scheme you must contribute towards it the same as you do for the eligible jobholders.