Workplace Pensions

Meeting your legal responsibilities

You may have heard that workplace pensions are undergoing a major overhaul. Even if you employ just one person, you will be legally required to provide a Qualifying Workplace Pension Scheme (QWPS).

The rollout for what is commonly referred to as ‘auto-enrolment’ started in October 2012. There are different staging dates up until April 2017, depending on how many employees you have and your PAYE reference number. The Pensions Regulator will contact you twelve months, and again six months, before your staging date. However, you can bring yours forward.

With auto enrolment, employers are legally required to:

  • Make contributions on workers’ behalf
  • Register your QWPS with the Pensions Regulator
  • Communicate to workers specific information about the changes and how these will affect them.

Workplace Pensions Employers Guide

Our handy guide, designed to help employers
cope with their new duties, can be downloaded here





 Get a head start

If you already offer a defined benefit or defined contribution pension scheme, registration may simply be a formality. We can review your arrangements, verify if they qualify and during this process identify any cost savings. If you need to introduce a scheme, the choices are:

  • Group personal and stakeholder pension
  • Group SIPP (self-invested personal pension)
  • National Employment Savings Trust (NEST) – specifically set up by government to assist businesses
  • Occupational money purchase scheme
  • Occupational defined benefit pension scheme
  • An entirely ‘bespoke’ pension scheme

Our experts are already advising employers of all sizes and in every industry sector, giving step-by-step guidance. Many have already found the process more time consuming and costly than initially anticipated. With penalties for organisations that miss their staging deadline, getting ahead is recommended. Albert Goodman’s pension advisers can work closely with you to assess your workforce and your pension provisions and help you to introduce and communicate your scheme, on time.

Minimum contributions being phased in are:

  Workforce – Minimum   rate of qualifying earnings Employer – minimum   contribution
From October 2012 2% 1%
By October 2017 8% 3%


Albert Goodman Financial Planning Ltd is authorised and regulated by the Financial Conduct Authority.