Corporate Pensions & Planning

Pension provision is an increasingly important aspect of business planning.

Prosser Knowles can provide advice on group pension plans and employee benefit plans for your colleagues and employees.

Auto Enrolment

Prosser Knowles is able to advise businesses about the government plans for Auto Enrolment; employers will almost certainly have questions about their responsibilities.

We can answer your questions, help guide you through the process and put the most cost-effective schemes in place via our managed auto-enrolment solution powered by Johnson Fleming, in advance of the deadline.

Employers are subject to the new regulations on a phased basis from 1st October 2012. Our provision aims to help you take care of your responsibilities and remove the challenges that auto-enrolment can impose on your business.

What is Auto Enrolment?

With the aim of encouraging more people to save for their retirement, from 1st October 2012, the government has been requiring employers to automatically enrol their staff into pension schemes on a phased basis.

What does this mean for employers?

Employers will need to enrol staff members into qualifying schemes and also make minimum contributions.

What schemes will be available?

Employers will be able to choose the type of scheme to enrol their staff into, provided it meets certain criteria.

The choice will be between either a Defined Benefit (DB) scheme, a Defined Contribution (DC) scheme, including NEST (the National Employment Savings Trust), or a hybrid scheme (a combination of both).

What will the cost be to employers?

The minimum contribution to schemes will eventually be 8% of the employee’s qualifying earnings, of which the employer must pay a minimum of 3%.

Where can employers get further advice?

Employers will almost certainly have questions about their responsibilities, and these can be answered by reputable professional financial advisers, who can guide them through the process and help to put the most cost-effective schemes in place, in advance of the deadline.

Employers have been subject to the new regulations on a phased basis from 1st October 2012.

To discuss our managed auto-enrolment solution, please click here to request a call back from one of our advisers.

Stay in touch

If you would like to keep up to date with current industry trends or receive details of our product developments, seminars, events and newsletters, just fill in your details below.

News feed

The 2020/21 end of the tax year guide

The current tax year will end on 5 April 2020, a date when many allowances and tax breaks will reset. In some...

Why your business owner clients need a shareholders’ agreement

When clients set up a company with family or friends, it’s easy to assume that nothing will go wrong. Since th...

5 easy ways you can be more focused and productive in lockdown

Long winter nights and emotional burnout from the psychological effects of the lockdown mean it’s easy to let...

How has ESG investing coped during the pandemic?

In recent years, environmental issues have dominated headlines as high-profile figures such as David Attenboro...

3 ways that getting financial advice can actually support your mental health

If you have been struggling with your mental health recently, you aren’t alone. According to a study by insura...

Quarter 1 (2021) investment market update

Quarter 1 (2021) investment market update video provided by Jason Broomer, Head of Investment, from Square Mil...

Market & Portfolio Update – Quarter to 31/12/2020

The arrival of a vaccine causes markets to leap The arrival of a vaccine has set a timeline for the pandemic...

Why a financial adviser should be a client’s second port of call when they divorce

Making the decision to end a marriage is a life-changing one and can have serious consequences. However, in th...

5 great ways to boost your mood as the days grow shorter

Winter can be one of the most difficult times of the year for mental health, with dreary weather and long hour...

How the trend of boomerang kids may mean you need to reassess your retirement plans

The trend of ‘boomerang kids’, adult children who move back in with their parents, is on the increase. A recen...

How you can avoid running out of money in retirement

One of the most common questions our clients ask us is: “What are the chances of me running out of money in re...

Inheritance Tax and gifting guide

If your estate could be liable for Inheritance Tax (IHT), gifting is one solution for passing on wealth while...

How potential Capital Gains Tax changes could affect your clients

In the past few months, the Treasury has been under increased strain to mitigate the impact of the coronavirus...

How to protect your business against the death of an owner

A question we often ask our business owner clients is: what would happen to your business if one of the owners...

The 10 best grown-up advent calendars this Christmas

For many people, Christmas truly begins when they open the first door of their advent calendar. With December...