Pension changes: What small business owners need to know

NEW pension rules affect every business with employees, from shops to farms, builders to pubs; even families employing a nanny or personal carer will need to know how the rules affect them.

Automatic enrolment – or auto enrolment – means that business owners will have to take steps to make sure that eligible employers are enrolled into a pension scheme. And they will have to contribute to it as well.

Small companies, with between one and 50 employees begin the process now and should be set up by 2017. So if you run a business this is no time to bury your head in the sand. It takes time to choose a pension, assess employees and get the scheme up and running.

Hayley Whitten, director of Biznus Payroll, based in Frome, said, “This is causing a bit of a headache for many of our clients and they really need our help to understand the rules, to assess whether their staff are eligible, and in choosing the right pension scheme.”

Biznus Payroll is organising a seminar on Monday 11th May at the Archangel King Street, Frome, between 9.00am and 11.30am.

The seminar is being run with Sanlam Wealth Planning and Now: Pensions and will cover:

• The legislation and your legal duties as an employer • How to find a pension scheme.

If you would like to come along then please call 01373 228300 or email amanda@biznus payroll.co.uk. There’s a small charge of £5 payable on the door. The seminar is free to existing clients of Biznus Payroll.