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Pension Auto-Enrolment

You can find out more about workplace pension auto-enrolment and employer duties here: http://www.thepensionsregulator.gov.uk/en/employers

There are lots of third party providers and financial advisers around charging large fees to survey the pension market and add on fees for X, Y and Z. At Chartered Online Accountant we have cut out working with financial advisers or other third parties; we have chosen to work directly with Smart Pensions which is compliant with the law and The Pensions Regulator (TPR), and is specifically designed for small businesses with few employees, keeping the costs to a minimum. If you would like us to set-up and manage your workplace pension with Smart Pension here is an outline of costs and what we do:

Costs:

  • Set-up - £300-£400 (depending on number of employees) a one-off fee to set up the Smart workplace pension platform for your business
  • Ongoing auto-enrolment monthly management fee from staging date - £30+VAT (up to 3 employees, then £10+VAT per month for every additional employee)
  • Ongoing employer pension contributions -
Date Employer minimum contribution Total minimum contribution
Employer's staging date to 05/04/18 1% 2% (including 1% staff contribution)
06/04/18 — 05/04/19 2% 5% (including 3% staff contribution)
06/04/19 onwards 3% 8% (including 5% staff contribution)

What We Do:

  • Once set-up is complete there are various regulations to comply with throughout the duration of the pension scheme, which include communications with each employee and TPR, and each month we will calculate pension contributions from your payroll data for you the employer and for each employee and input that into the pension platform for each employee.
  • We will liaise with Smart Pensions, TPR and staff on your behalf, managing the process on an ongoing basis; ensuring you that are compliant with the law but keeping your costs and involvement to a minimum.

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Next Step:

Please contact us on 020-1234-057, email JClinton@charteredonlineaccountant.com or use our contact us form if you need further advice, have any questions about our services or would like a free consultation and a fixed fee quote.

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