Are You Aware of New NEST Pensions Law?
Pensions are often overlooked throughout many people’s lives. Whilst some jobs offer built-in pension plans, the onus lies on many employees to set up their own pension plans when planning for the future. With the world of finance a world of fluctuating figures, pesky percentages and new and improved legalisation, it’s not surprising that many people can get lost in its overwhelming undergrowth.
With the UK introducing the new NEST Pension laws in October 2013, it is imperative to understand what this new regulation will mean for you, your business and your employees. Luckily, help is close at hand in the form of Guardian Wealth Management.
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As renowned financial advisors, we pride ourselves having a wealth of knowledge and experience in our industry. Whether you are looking for investment direction, savings planning or are unsure about QROPS and SIPPs pension schemes, we will be able to answer any questions and queries you may have.
Finances are understandably a daunting prospect and, in the current economic climate, there really is an emphasis on sensibility and security as people begin to plan for the future. This is one of the reasons that NEST Pension schemes have been introduced in the hope of protecting employees and their families in the long term.
So what do these new laws mean?
As an employer, you will be obliged to provide your employees with access to a formal pension scheme (NEST Pensions). This will allow your employees access to an auto-enrolment pension scheme in which a percentage of their pay is deployed into their pension automatically.
Whilst there are some concerns regarding the accessibility and contractual intricacies of the scheme, the main aim of this reform is to ensure that people save and plan for their future. This will hopefully reduce the strain on the State Pension, as people won’t have to rely on it as heavily.
So ensure that you and your company are ready come October. With plans and strategies to put in place, let Guardian Wealth Management ease your worries as we offer our expert financial advice. Contact us today or visit the NEST pension page on our website.