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

What is Protection Insurance?

Day to day life can be so hectic and complex even when we are healthy and financially secure. Time passes us b...

Millennials face potential homelessness in retirement

According to the first government report into what will happen to UK millennials who have been unable to get o...

Moved jobs a lot?

If so, you may well have picked up a number of pension pots along the way. Official figures suggest that, in...

Thinking of releasing equity from your home?

See some of the ways you could use the proceeds when releasing equity from your home....

Quarter 2 (2019) Market Update Video

Quarter 2 (2019) market update provided by Jason Broomer, Head of Investment, from Square Mile Investment Cons...

Gender pay gap strikes again, this time for Women’s pension pots

A report released earlier this month “Facing an unequal future - closing the gender pensions gap” was compiled...

Prosser Knowles helps fight the diversity battle in financial services

Historically, financial services firms had a reputation for being a little stuffy, only available to more affl...

Pension Minister Admits Significant Problem with Incorrect State Pension Forecasts

In a recent letter to Royal London policy director Steve Webb, Pensions Minister Guy Opperman has recognised t...

Talking with Leighton Parkes

Leighton Parkes, Financial Planning Consultant at Prosser Knowles Associates Limited, met with Kay Crooke to c...

Saving for children – cash options

Saving and investing for children is not so different from investing for any other purpose - you need to deter...