Free guidance sessions for small firms on the latest pensions minefield are being staged in Bristol next week by a national pensions group.
All small business owners have been required to enrol their employees into a pension scheme by law since the start of this year – but many are finding the process difficult and confusing.
The Chartered Institute of Payroll Professionals (CIPP) is staging an event in Bristol next Friday, April 15, to offer some much-needed help and advice as part of a national roadshow.
CIPP’s specialist friends of automatic enrolment (FoAE) group’s one-day surgery will be at The Bristol Golf Centre, Hambrook, and will allow businesses owners to talk face to face with pensions and payroll experts.
FoAE has highlighted the importance of complying with the legal requirements of automatic enrolment which can result in fines of up to £10,000 a day and can ultimately carry a prison sentence.
Its experts will welcome those at any stage of the process – from starting on the journey and knowing nothing or those who have already started but are stuck.
Steve Brice, business development manager at LP Auto Enrolment Solutions and chair of South West and Bristol FoAE, said: “We have already helped many businesses – all of whom are managing their employees’ pensions much better now. But many are still confused and bewildered and want answers to key questions.
“Our guidance sessions are at no cost and we want to make sure that small businesses, which are the backbone of our local economy, get a push in the right direction.”
Automatic enrolment, which first came into force three years ago, requires every business with at least one employee to place their staff into a workplace pension scheme. Large businesses have already enrolled into the programme and the Government now wants small business to do the same.
The pension surgery will be open from 10am – 3pm at The Bristol Golf Centre, BS16 1QQ. Book a place through the CIPP website www.cipp.org.uk or by calling Jack Grinnell on 0121 712 1000.
