Company Pensions & The Auto Enrolment Scheme

The number of people in company pension schemes is currently at a record high.

From what I'm seeing on the ground, that's from employers who are using company pension schemes as an incentive for staff to get ahead of the Auto Enrolment mandatory pension and staff retention.

The scheme deadline is January 2025??

One of the main reasons people don't set up pensions, citing research, is that they don't know where to start or who to contact, so providing that facility is of value.

Also, from the point of view of employees, who know that when Auto Enrolment comes in, they'll be entitled to employer contributions, and they're much more engaged in terms of how they're going to get the employer contribution.

Under the Auto Enrolment legislation, if you have a company pension scheme that you're contributing to as an employee only, the legislation doesn't compel an employer contribution, so employees are looking to see whether they can get an employer contribution into that or whether they have to go to the Auto Enrolment scheme to avail of the employer contribution.

If Auto Enrolment is something you need clarity on, feel free to get in touch, my contact details are in the comments section.??