It won’t be long now until all employers will need to have a pension scheme in place for all eligible employees under the “auto enrolment” pension legislation. As things stand currently, if your company employs only you (as the director) and nobody else, you should not fall under the legislation. However, if you have any additional employees, even just your spouse, you will be affected by the new legislation.
Compliance with the new legislation has already started for the biggest employers and will be rolled out to cover smaller employers over the next few years. Every employer will be given a “staging date” from which they have to comply. All employers will reach their staging date by 2018, and all but the smallest employers by October 2015.
But don’t panic, we’ll help you through it. We will be getting in touch with you well ahead of your staging date (if you have one) to discuss your responsibilities and your options. Remember, your situation, or the legislation, may change before 2018 so keep us informed of any changes.