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

Guide: Your guide to scams

Technology has made it easier than ever for scammers to target victims, and the tactics they use are becoming...

Guide: The history of investing and what you can learn from the past

Investing has been around for centuries and the basics haven’t changed as much as you might think. Technology...

Everything your clients need to know about using their Business Asset Disposal Relief

If you have clients who are looking to sell their business in the near future, they may be expecting to have t...

5 easy ways to make your home more eco-friendly

In recent years, many ordinary Brits have taken an interest in what they can do to help reduce their carbon fo...

Common Covid scams and 5 practical ways you can stop fraudsters stealing your money

If you’ve been pestered by spam calls and messages in recent months, you aren’t alone. According to figures re...

How an 18th-century farmer’s advice can help you to lower your risk when investing

If we told you that a farmer’s advice can help you to protect your investment portfolio, you might wonder if w...

3 key reasons why your clients should put a Lasting Power of Attorney in place now

While nobody likes to think about the possibility that there could be a time when they are no longer able to m...

Why you should be wary of social media trading tips

In recent months, there has been an explosion of videos on social media sites such as TikTok that purport to o...

Everything you need to know about financial planning as a couple

When you’ve found someone whom you love, and have settled down into a serious relationship, it’s time to start...

3 strong reasons not to hold too much of your wealth in cash

When times are tough, it can be tempting to hold more of your wealth in cash, since this makes it much more ea...

Guide – Your retirement choices: how to generate an income in later life

Since Pension Freedoms were introduced in 2015, retirees have had more choice when they access their pension....

Why a pension could be the best way for your clients to extract profit from their business

When trying to extract money from a client’s business, there are a variety of obstacles to overcome in the for...

7 of the best days out for National Walking Month

When your day-to-day life is stressful, sometimes there’s nothing more enjoyable than getting out into the cou...

Everything to consider if you’re thinking about overpaying your mortgage

At a time when record low interest rates make saving seem like an unattractive option, if you have spare cash...

5 important financial lessons the pandemic has taught us

The coronavirus pandemic has financially impacted millions of Brits in recent months, and many households have...