Unless you qualify for exemption, you need to offer a stakeholder pension such as EasyBuild to all your employees. And from 2012 you’ll need to provide a workplace pension scheme and the majority of employees will need to be automatically enrolled in the scheme.
Helping employees build retirement savings
EasyBuild allows you to do just that. With EasyBuild working for your business, you can benefit from a stakeholder pension that is very simple and hassle free:
- designed specifically for the construction industry
- is available to all your employees
- Simple and flexible administration process
- is cost-effective and easy to administer
- comes with full administrative support and the backing of employer federations and trade unions
- allows you to make tax-deductible contributions
- Flexible options for the employees
- Employee can transfer in or out
- No limit on contribution levels (however, there is a limit on the amount on which tax relief can be claimed)
- complies with the industry's Construction Industry Joint Council (CIJC) working rule agreement and best practice
Action Now
The reforms come into existence from October 2012, but to help businesses prepare for the cost of auto-enrolment, the Government is introducing employers in stages depending on their PAYE scheme size (largest employers first)
Companies will need to introduce a qualifying scheme between October 2012 and February 2016. The date of your obligation will depend on your PAYE scheme size. Please contact us to find out your exact date.
The legislation affects every employer – even if you only employ one person. Make sure you provide the most suitable pension scheme for all your employees by taking action now.
Please see B&CE’s Guide to Pensions reform for more information about auto enrolment and qualifying schemes.
Find out more about EasyBuild and apply for the product today.