What is a workplace pension scheme and automatic enrolment?
A workplace pension is a method of saving money for retirement that is arranged by an employer. A workplace pension may also be referred to as an occupational pension, company pension or work-based pension.A workplace pension involves a certain percentage of the employee’s pay being put into the pension scheme automatically every payday. In most cases, an employer and the government will also contribute to the pension scheme for the employee.
A new law has now come into force that means employers must automatically enrol workers who meet certain criteria into a workplace pension scheme and this is referred to as ‘automatic enrolment’. The individuals affected are those who are aged between 22 and State Pension age, earn more than £10,000 per year and work in the UK.
If an employer isn’t currently making contributions to a pension scheme, they will have to by law when they ‘automatically enrol’ every worker.
What is a ‘Staging Date’?
The staging date is the date that automatic enrolment duties come into force for an employer’s business. Automatic enrolment is being staged in over a period of 6 years, which began in 2012 with the largest employers.
The staging date is based on the size of an employer’s PAYE scheme on April 1, 2012. The more people in an employer’s PAYE scheme, the earlier the staging date.
How can AMVOC assist with auto enrolment lead generation and appointment setting?
If you are a financial advisor who is looking for qualified appointments, which will allow you to work with companies to provide advice and solutions for the impending introduction of auto enrolment for UK companies, then AMVOC could help you. Our dedicated team of professionals can work on your behalf to both increase and maintain a steady pipeline of leads, taking away the headache of targeting suitable organisations that may require your services and allowing you the time you need to do what you do best!
AMVOC could help you to gain qualified appointments with the decision maker(s) of an organisation who is looking for AE advice, at their premises, and ensure that the appointment is confirmed both by email and then again by telephone 24 hours to the meeting.
Our experienced professionals can do this by contacting businesses and organisations, usually conversing with people in HR, Finance and/or Payroll departments. At this point it is necessary to ascertain at what stage they are in the auto enrolment process. Even more importantly, our dedicated team can work to determine their attitude towards auto enrolment and whether they are prepare to pay a fee for advice, should they feel comfortable and confident with the advisor.
All appointments made by our team are made on the basis that the meeting will be an opportunity for both parties to get to know each other, with the view of building a long term business relationship.