Here are your questions – we have the answers

Compulsory pension contributions are on their way for every business & will take on a much higher profile over the coming months as:

• The Pensions Regulator sends letters to employers outlining the new responsibilities
• The Department for Work & Pensions arranges telephone interviews with a sample of employers (EBS has been selected for a call!)
• The Pensions Bill becomes an Act next month
• NEST – the National Employment Savings Trust goes live

Key considerations for every business will include:

• When will this affect my business?
• Which of my employees will be eligible for compulsory pension contributions?
• Which of my employees can also voluntarily opt-in and request an employer pension contribution?
• How much could this increase my costs by?
• What options do I have to control my costs?
• Does my current pension scheme & contribution basis meet the new requirements or will I need to make changes?
• Should employees not currently eligible be enrolled into my existing scheme or an alternative?
• How much additional administration is involved?

EBS can provide the answers to these questions for your business now – for further information speak to us.

A summary of the proposals is also available from our website.

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