Workplace Pensions
An employer is legally required to provide a Qualifying Workplace Pension Scheme (QWPS).
Providing a (QWPS) means employers must:
- Make contributions on workers’ behalf
- Register your QWPS with the Pensions Regulator
- Communicate to workers specific information about the changes and how these will affect them.
As of April 2019, employees should receive a minimum 8% of the value of their salary as a pension. This is made up of 5% contributed from the employee out of their income, and the remaining 3% contribution from the employer.
With our assistance, we can ensure you meet all the legal requirements while creating a scheme that works to the benefit of you and your employees.
When introducing a scheme, your options include:
- Group personal pension
- Group SIPP (self-invested personal pension)
- A Mastertrust pensions solution
- Occupational money purchase scheme
- Occupational defined benefit pension scheme
- A bespoke pension scheme
With our step-by-step assistance we help ease the time, money and concerns that can be poured into the process of setting up workplace pensions. We can also ensure you avoid any penalties if you don’t meet the government’s workplace pension criteria.
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