Businesses advised on new workplace pension legislation

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More than 50 businesses attended a seminar looking at new workplace pension legislation.

Auto enrolment is the name given to the law that requires employers to put certain staff into a pension scheme and contribute towards it.

Until recently, the law, which came into effect in 2012, only applied to larger companies. Now businesses of all sizes face fines if they fail to comply.

The seminar was organised by Chester and Wrexham accountants Ellis & Co in conjunction with chartered financial planners Illingworth Seddon and NOW Pensions.

The event was held at Thornton Science Park, University of Chester, Chester.

Mark Szulczynski, Payroll Manager at Ellis & Co, said: “The auto enrolment legislation applies now to all businesses, regardless of size, but many business owners do not realise the serious implications if they fail to comply.

“The penalties and fines applicable to businesses that fail to meet the requirements of the auto enrolment law are significant.

“A key requirement to be compliant is to have a suitable workplace pension scheme in place which can be challenging to set up.”

Any business owner wanting information about auto enrolment and setting up a workplace pension scheme should contact Mark at Ellis & Co on 01244 343504.