In 2012, the UK Government introduced auto-enrolment for employees to help them save some money for their retirement time. The new workplace pension law was planned to overcome the shortage in the country’s pensions scheme. It is believed to be one of the most significant laws announced by the UK government.
All employees who qualify (as per the auto-enrolment policy) have to contribute a certain amount from their salary into the pension schemes, which they can withdraw when they reach retirement age.
We at Thompson Accountancy Services, help companies process the policy effectively in their organization. It includes assessment of employees’ eligibility and supports them to get enrolled automatically to the pension scheme. On the implementation of the scheme, a certain amount will get deducted from the eligible employees’ salaries and transferred to their pension account. Employees will have to contribute an amount every month to the pension scheme.
Thompson Accountancy has good experience in auto-enrolment services and offers this service to all organizations of all sizes.