We are delighted to announce that we will be hosting a seminar for business owners and employers to address the new pension auto enrolment rules on the 20th November at the Penventon Park Hotel.
We have teamed up with Sage who provide software and services to over 830,000 businesses in the UK and Jacksons Wealth Management who offer financial planning expertise to Cornwall and beyond.
Sage will provide a greater understanding of how businesses can manage the new auto enrolment processes within Sage, helping businesses to run as smoothly as possible during their initial transition period as well as in the long term.
June Horne, Regional Development Manager at Sage said:
“Robinson Reed Layton are Cornwall’s longest established Sage accredited Accounting Partner and Sage are delighted to have the opportunity to work with them in helping to publicise employer obligations under pension reform and auto enrolment”
Jacksons Wealth Management has also been asked to be on hand, as an expert, during the seminar to provide a greater understanding of how the changes will affect businesses, whilst providing advice to overcome the many obstacles they may face.
Roger Weeks, Finance Director and Financial Adviser at Jacksons Wealth Management said:
“Robinson Reed Layton have been our accountancy firm for many years and during this time we have built up an excellent working relationship, not only with the firm but also with the individual partners, making it an easy decision to partner-up for the auto enrolment seminar.
“This subject is one which causes a lot of confusion for business owners. Some are still unaware that they have a responsibility at all, let alone what it all entails for them, so it is refreshing to see a local firm like Robinson Reed Layton proactively provide its clients with information and advice.”
The pension reforms began in 2012, firstly with the UK’s largest employers who were required to provide a specific type of pension scheme, and to enrol their employees onto it.
It is has also been enforced, that by 2018 all employers are required to set up and enrol all eligible employees onto a pension scheme, with employees also having the choice to opt out after they have been enrolled.
Paul Reed, Senior Partner at Robinson Reed Layton said:
“It is important that businesses are made aware of and understand the implications of the new rules as well as the effect they will have. We will also highlight the extra administration required and offer advice as to how Robinson Reed Layton and Sage can support the whole process.”
Under the new rules, employers will be required to make contributions for each employee – this is currently set at 1% of the employees’ “qualifying earnings”, rising to 3% by 2018.
“The obligation to contribute to a number of employees’ pensions will impose significant additional costs on all businesses, and many small Cornish businesses will struggle to meet the costs of the new rules. At Robinson Reed Layton we are dedicated to supporting Cornish businesses, and we are delighted we can offer them our support and advice at our seminar.”