For the last two weeks Karen, our Auto Enrolment Administrator, has been busy setting up workplace pension schemes with The People's Pension. This has been the most popular pension scheme with our client employers and several of them decided to have it set up before the new charges came into place today. Since the announcement was made Karen has set up 12 schemes for employers in Wiltshire who have Staging Dates in 2016-17. The schemes will lay dormant until the employer's Staging Date.
From today The People's Pension will charge a one off fee of £500 + VAT but if your scheme is set up through a payroll bureau such as ourselves their fee will be £300 + VAT.
The People's Pension has won a number of awards and their customer service centre is UK based. They are already working with payroll providers to enable the pension information to flow seamlessly from payroll software to their own systems.
Whilst we have found The People's Pension to be the most popular scheme so far we have also signed up clients to NEST. Many others are still to decide whether NEST, NOW Pensions or The People's Pension will be their scheme of choice.
Using a third party to set up your workplace pension will save you time researching the options and interpreting the set up questions. Using a payroll bureau to process your payroll and deal with your pension obligations at the same time ensures both payroll and auto enrolment are hassle free.
If you would like to use our auto enrolment administration service to set up your workplace pension give Karen a call on 01722 341820.