Are you wondering what a staging date is?
The Auto Enrolment legislation has been designed and incorporated to encourage a retirement saving culture amongst businesses across the UK. This will affect about 1.2 million businesses and 11 million workers across the UK. Every employer will be notified by The Pension Regulator the date from when they must have a suitable pension scheme in place and automatically enroll eligible workers into it, known as the ‘staging date’. Failure to do so could lead to fines from the regulator. Auto enrolment is primarily about pensions, but the most important thing about the new legislation is that you abide by the new rules. The Pension Regulator has set a range of guidelines and strict rules for everybody including employees and employers to stick to, and so with us here at Generation Financial Services, we will work with you to advise you on how to stick to the auto enrolment and prepare for your staging date. The Regulator recommends starting 12 months before your staging date, although with forward planning this can be considerably less.
Generation Financial Services are independent financial advisors, and we provide a cost effective, proactive, hands-on and bespoke service that is designed specifically to deliver exactly what your business needs by way of advice, management, administration and servicing.
Continue to the website now to find out more about auto enrolment and staging dates.