I Would Like To Improve The Pensions Of My Staff

As a means of remunerating valuable staff company pension schemes can be both tax and National Insurance efficient.

With the added benefit of demonstrating an appreciation of the roll that personnel can play in the development of your business.

How the Government `s plans effect you

The good news for your staff is that they won`t have to rely on the State Pension in the future.

The bad news could be that the emphasis is been placed on employers.

There have been an increasing number of pension acts over the last few years but the 2008 variety promises to live long in the memory of most employers. Much of the coverage of this piece of legislation has focused on personal account, the government-sponsored pension scheme which are targeted be introduced in 2012. But this is only a sideshow to the main event. The pensioner’s act 2008 introduces compulsory pension provision which potentially means, from 2012, employers will need to enrol most of their staff in a pension scheme automatically and pay a contribution of 3% for those who remain members.