Nicholson’ s – Auto Enrolment

Nick is the Managing Director of a company and employs a mixture of permanent and contract staff, typically about 45 people.  There is an old stakeholder scheme in place which two of the office employees contribute to and a separate personal pension for the two majority shareholders.

Nicholson’s main concerns were:

  • Being Auto Enrolment compliant
  • How a large take-up rate would affect their profitability

What we did for Nicholson’s:

  • Working with the Finance Director we reviewed their personal pensions and stakeholder arrangement
  • Considered the level of the company’s payroll and the increased cost of Auto Enrolment (AE) for the next four years’
  • Put in place a scheme that meant the company met AE requirements and explained the changes to the staff

Benefits for Nicholson’s:

They know the cost of implementing AE or the next four years.

Since the changes to the pension scheme there is a greater sense of company loyalty and the retention rate has increased.

 

A pension is a long-term investment. The fund value may fluctuate and can go down. Your eventual income may depend upon the size of the fund at retirement, future interest rates and tax legislation.