We’re now on the plateau with workplace pensions. After its introduction in 2012 all businesses then existing and all the ones created up to October 2017 have by now begun their obligations. Since then newly established businesses have immediate obligations, though they can still use postponement for up to 3 months.

But is that it then, nothing more to be done? It’s likely a lot of businesses will have “chosen” the handiest or least cost pension scheme because of uncertainty and just wanting to do anything to get compliant.

The rolling 3 yearly re-assessment date may be a trigger for everyone to re-assess what they’ve done and evaluate a range of options. Net investment performance comparisons are beginning to emerge with Compare My Workplace Pension Supermarket not far off, if not already lurking.

Time to reassess one’s processes and administration too – is your payroll brand or payroll bureau error-free or leaving you at risk of action from mistreated employees? And is it just a pure headache every week or month with bits of processes that don’t fit and don’t interact?

Time to be positive too. Providing your employees with pension benefits should be painless (not too expensive) and easy to administer. Take time to look into salary sacrifice, it’s literally free money, and whilst not very much based on 3%, it can be significant at 5% and who knows where the plateau for that will be in a few years’ time.

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