Automatic Enrolment
At Morris Palmer, we offer an integrated Automatic Enrolment (AE) package designed to provide employers across the UK with a seamless and compliant solution to workplace pension requirements.
Read on to discover how we can handle all aspects of your AE responsibilities, including payroll management, ensuring full compliance with statutory regulations. Full details of our charges are also provided below.
What is Automatic Enrolment?
Automatic Enrolment is a legal requirement under the Pensions Act 2008, obligating employers to establish and manage a workplace pension scheme for their employees. Contributions must be made in accordance with specific conditions. AE is a complex and highly regulated process, and non-compliance can result in significant penalties. You can check your staging date—the date by which you must implement AE—on The Pensions Regulator website.
Choosing a Pension Provider: The Morris Palmer Solution
Employers have several choices when selecting a pension provider
ABI-Approved Providers
The Association of British Insurers (ABI) lists qualifying AE pension schemes.
NEST
A government-backed scheme set up under the Pensions Act 2008.
AE Specialist Providers
Some providers operate master trusts or group personal pensions.
If you or your employees need tailored pension advice, we can connect you with an independent financial adviser.
Our Unique Solution: We offer an integrated AE solution in partnership with Legal & General—one of the UK’s most trusted pension providers, managing over £525 billion in investments (as of 31st December 2016).
Unlike many providers who exclude small employers, our Legal & General WorkSave Pension Plan offers a commercial, flexible pension solution regardless of your workforce size.
Annual management charge
0.5% of contributions (deducted from the fund, not the employer).
More details
on this plan can be found on the Legal & General website.
Regardless of your chosen provider, Morris Palmer will manage all AE administrative duties on your behalf.