Lots being put out on TV about Workplace Pensions and as most small businesses will have to start dealing with their responsibilities mainly from next year expect even more as the campaigns accelerate next year to make sure employers don’t ignore their responsibilities.
At its most basic it’s about giving your staff access to a pension that they and you, as their employer, make contributions to so that staff will have a pension pot at retirement age.
As I say that’s at its most basic but as you can imagine there is an awful lot of detail behind the headlines including some fearsome fines if employers don’t fulfil your responsibilities.
Where can you get help and advice? Well the single best place to go is to the Pension Regulator site at www.thepensionsregulator.gov.uk which will have everything you need to know about your responsibilities and deadlines. Or, you could simply put a call through to your Accountant and have a chat with them about how they are going to help you through the whole process going forward. You may however, think why has your Accountant not been in touch with you about this especially if they process your payroll?