Pension workshop planned for Shrewsbury

A workshop to explain about how the new pension law affects business owners is being hosted by a Shropshire accountancy firm.

Shrewsbury-based practice Andrews Orme and Hinton is organising the event on September 14 for its clients and any other interested parties.

“This is a very important and topical issue for Shropshire businesses,” said Nigel Hinton, a partner of Andrews Orme and Hinton.

“The ‘auto enrolment’ process is now underway, meaning that employers must conform with the new regulations, which will be explained in detail at the awareness session.

“We have invited NOW pensions to explain more about the law and feel this is a vital opportunity to understand the process and financial implications for Shropshire business people.”

The new law on workplace pensions means that every employer with at least one member of staff now has new responsibilities, which include enrolling staff who meet certain criteria into a workplace pension scheme and contributing towards it.

“This is automatic enrolment. It is so named because it’s automatic for staff - they don’t have to do anything to be part of the pension scheme - but it’s not automatic for employers who need to take steps to make sure they’re enrolled,” Nigel added.

All employees earning more than £5,770 and less than £41,865.00 are classed as eligible workers and will be enrolled into the workplace pension, unless they choose to opt out. However the employer still needs to have made provision for auto enrolment.

The workshop, which will include a question and answer session, will be held at Andrews Orme and Hinton’s offices at 4 Darwin Court, Oxon Business Park, at 4pm on September 14 and booking is advised as high demand is expected and limited space is available.