Auto-Enrolment and Group Personal Pension Schemes
Essentially the Government is shifting the burden of responsibility from the public purse to the private sector. Company pension schemes reform mean rules are changing about the way employers run their pension schemes.
The plans are for compulsory pension schemes contributions by employers, auto enrolment of employees and the requirement for a default fund.
Failure to comply with a more stringent set of rules will probably result in penalties and fines.
At The Complete Pension Guide 2017 we encourage you to be prudent and take advice early to avoid the matter becoming a last minute forced situation without thought or good planning, complete our form today.
Protecting Your Group Personal Pension Schemes Members
Several steps can be taken to ensure adequate protection is in place to protect your members and their benefits. Remember you are planning for the best case scenario while being prepared for the worst.
Make sure that your pension schemes advisors are regulated by and registered with the Financial Services Authority (FSA).
Check that they have a clear complaints procedure in place that is easy to follow and that takes matters seriously.
Next check that they carry sufficient personal indemnity insurance (P.I) and are also insured to conduct this type of business, Group Personal Pension Schemes.
Finding and working with an advisor that is highly recommended should greatly reduce the chances of an unsatisfactory appointment. This is where The Complete Pension Guide 2017 can really help, so either start toward establishing your Group Personal Pension or transferring your pension schemes by completing our form today.