23 November 2015
B&CE Launches New Auto-Enrolment Solution for Small Businesses
The People’s Pension provided by B&CE has launched a low-cost, automatic enrolment pension solution for small businesses and Build UK Specialist Contractors can receive a £200 discount off the set-up charge. B&CE is a Build UK partner and the new full support solution is a direct result of extensive research and discussions with representative organisations including Build UK.
The new pension solution has two main options:
• Simply Comply – a fast-track process to help employers comply as quickly and easily as possible
• Simply Tailor – a more bespoke experience to cater for a company’s individual needs and those of their workforce.
Both offer a number of different payroll options, a range of online tools and assessment choices and a high level of personal support with extended telephone helpline hours from January 2016. The People’s Pension will also confirm to The Pensions Regulator that the employer has complied with their auto-enrolment obligations.
There is a one-off employer set-up charge of £500 + VAT but Build UK Specialist Contractors receive a reduced rate of £300 + VAT. The set-up charge will apply to businesses that have a staging date from January 2016 and who sign up to The People’s Pension from Monday 23 November 2015. It will also apply to companies with a 2015 staging date if they do not complete their sign up before 1 January 2016. There are no on-going charges for employers. Employee members of the scheme will pay a low annual management charge of 0.5% of their total accrued pension pot.
In order to benefit from the £200 discount, Build UK Specialist Contractors should visit the B&CE hub via the Build UK website and select ‘Get your reduced charge code’.
More information is available on The People’s Pension website.