In aid of pension awareness day which took place on 15 September 2019, we asked our Employment Team for their top tips when advising clients on pension contributions.
Pension awareness is vital for employers and employees. It is important that everybody is aware of their obligations in relation to paying into a pension scheme and the reasons why saving for later life is important.
Head of Employment at Clapham & Collinge, Nicola Strefford explains "We regularly see clients coming forward for professional advice when an issue arises, but we always recommend clients are proactive not reactive when it comes to ensuring they comply with the law. Our advice on Pension obligations is no different. Ensuring your documentation is fully up to date and will guide you through processes should an issue arise is the most cost effective and straightforward way to avoid getting into difficulty".
Top Tips:
- Check your employment contracts regularly. There have been recent changes to workplace pensions and older contracts may not be compliant with regards to pension obligations for employers. We always recommend an Employment contract review is done regularly and by professionals. Your contracts may be compliant but having peace of mind is extremely worthwhile.
- Make sure you have policies and procedures in place to deal with employee pensions. If pension contributions are not paid into the pension scheme, this can have serious consequences for employers. If employees have concerns regarding their workplace pensions, they can report an employer to the Pensions Regulator or bring a claim in the Employment Tribunal.
- Ensure that new employees have all the relevant details on the workplace pension and have access to guidance and/or a meeting with your pension provider to ensure they appreciate the importance of a workplace pension, before a decision is made to opt out.
- Deal with any pension disputes transparently and efficiently. If there has been a procedural or administrative error in relation to the workplace pension, immediately inform the employees and rectify the situation. We would always recommend if there is an issue with pensions that employers be proactive and get expert advice at an early stage.
- Know your obligations in relation to the workplace pension!
At Clapham & Collinge, our team of expert Employment specialists offer practical guidance on pension obligations, including how to deal with pension disputes and other pension related queries. We tailor our approach to specific business needs in order to ensure you get the most out of the service.
If you need any help or advice on your legal pension obligations, or you are involved in a pension dispute, please contact our Employment Team today on 01603 693500 or email us using the 'Make an enquiry' form. Appointments available at our Norwich, North Walsham and Sheringham offices.
*This article is provided for general information purposes only and does not constitute legal advice or other professional advice.
