Auto Enrolment Lewisham
All employers in the Lewisham area are likely to know they’re affected by the new pension rules on auto enrolment. Under these new regulations, anyone who employs one or more people must offer a workplace pension scheme which meets HMRC standards and ensure every eligible worker is automatically enrolled into it.
At Bookkeeping Synergy, we’re often asked about the benefits of auto enrolment for Lewisham employers. These are the top three reasons why it can be good for your business:
- It’s tax efficient
Any contributions you make for your employees are a tax-relievable, meaning it can reduce your corporation tax liability. Your employees will also receive tax relief on their contributions.
- It Will help you to recruit and retain the best employees
Offering a good pension scheme will be a valuable asset to help you retain your employees and make them feel valued, particularly if you choose to offer greater than the minimum contributions. It also offers you the opportunity to review your entire remuneration and reward package for your workers.
- You are helping your employees save for their future
With uncertainty over future state pension benefits and the abolition of the state retirement age, saving for a pension has never been so important to workers in the Lewisham area. By offering a workplace pension which they also contribute into, you’re encouraging a culture of saving for the future and planning sensibly for retirement.