workplace benifits

Auto Enrolment

Workplace Pensions and Auto Enrolment

All UK employers are required to automatically enrol eligible employees into a workplace pension scheme and contribute to it regularly. On the surface, auto enrolment is a powerful tool helping employees overcome the inertia of retirement saving. Yet, putting it into practice begets numerous challenges for employers. With the help of local Lighthouse auto enrolment advisers, we can ease the burden of auto enrolment by advising a cost-effective workplace pension scheme suitable to your company and your finances. Our workplace pension scheme delivery is fully supported by the availability of an advisory team to help with implementation, combined with a dedicated administrative team providing on-going service.

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Whether you employ 200 staff members in a large firm or a single assistant, you have certain legal obligations to automatically enrol employees in a workplace pension scheme. Despite every employer in the UK being affected by auto enrolment, many still linger in the dark about what this entails and how it will affect their businesses.

As workplace pension experts, a team of Lighthouse auto enrolment advisers offer guidance regarding your legal duties in establishing a workplace pension scheme for your employees. Moreover, you can expect the following advantages from your Lighthouse adviser:

  • Through an extensive review of the many diverse pensions schemes in the UK (as well as the providers running these schemes), a Lighthouse pensions adviser will help locate the ideal pensions scheme optimised for your company size and financial circumstances.
  • Lighthouse will help create a business forecast exhibiting how your auto enrolment scheme may affect your business’s income and expenses.
  • In establishing, adding to or maintaining a workplace pension scheme, you have a specific set of mandatory legal duties. Failure to abide by these duties could potentially result in sanctions. As such, your Lighthouse adviser can walk you through the specific actions you must take. We will help you overcome the complexities of auto enrolment while distinguishing what you must do from what you can do.

Staff-related expenditures, which includes regular contributions to the pension scheme, comprise about 85 per cent of an average UK employer’s costs. Effectively integrate auto enrolment into your business’s budget with a local Lighthouse adviser at your side.

Running a business carries substantial perks, both economically and in terms of personal fulfilment. An overflowing schedule, on the other hand, is generally not included in the list of benefits of being an employer. To maintain the success of your business, you may have needed to adopt a near-constant, hardworking attitude characterised by long weeks and many working weekends. As such, adding auto enrolment administration to your weekly list of to-dos is neither attractive nor feasible.

Our Lighthouse auto enrolment advisers offer comprehensive on-boarding and maintenance for your entire workplace pension scheme. Not only will continual auto enrolment governance leave you free to focus on the growth and success of your business, but it also puts specialised financial experts at the forefront of the scheme, therein strengthening the financial oversight of your business’s expenses without sacrificing your employees’ futures or job satisfaction.

Based on your business’s needs and a personalised Lighthouse financial review, your local Lighthouse auto enrolment adviser will integrate the workplace pensions plan and then manage its efficacy thereafter. We will help evolve your business’s auto enrolment administration to cater for business growth and newfound financial circumstances while ensuring that your business adheres to UK law and the Pensions Regulator every step of the way. If you have any questions or concerns, a UK-based administrative centre will be available to review your company’s auto enrolment operations. Your Lighthouse adviser can also keep watch for any investment options and other factors that could increase the financial benefits of your workplace pension scheme.

As a financial advice services company, Lighthouse wants to see businesses across the UK succeed. We also understand the additional pressures placed on employers due to auto enrolment requirements. Let your local Lighthouse adviser take control of the administrative aspects of auto-enrolment integration and maintenance so that you can delegate 100 per cent of your focus and energy to the prosperity of your business.

The Lighthouse Pensions Trust is part of the Corporate Pensions Trust established in January 2014 and sponsored by Lighthouse Group to provide a cost-effective way for small and medium sized businesses to satisfy their obligations to establish and maintain a workplace pension scheme that complies with auto-enrolment legislation. Employers using the Lighthouse Pensions Trust are fully supported by advisers and support staff within the Lighthouse Group, both on initial establishment of their schemes and in subsequent maintenance and updating them. 

Following the introduction by the Pensions Regulator of a new mandatory authorisation scheme for Master Trusts providing auto-enrolment compliant workplace pensions schemes, Lighthouse Group reviewed the position and concluded that it could no longer support the Corporate Pensions Trust in making an application to the Pensions Regulator for authorisation under the new regime, due to the substantial additional costs that would arise. Accordingly in January 2019 Lighthouse Group made an announcement to that effect and advised the Pensions Regulator of its intention to effect the transfer of existing employers and members of the Corporate Pensions Trust to the Auto-Enrolment Master Trust, operated by Smart Pension Limited. The announcement can be seen here. 

As a result of the above, the Corporate Pensions Trust is no longer able to accept applications to join it from new employers, and the transfer process will commence once the Auto-Enrolment Master Trust has received authorisation from the Pensions Regulator. Application was made in January 2019 and it is anticipated that authorisation should be granted by September 2019

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Important Information: Our automatic enrolment services are not covered by the rules and guidance of the Financial Conduct Authority and we are obliged to comply with the rules and guidance of The Pensions Regulator in advising on matters pertaining to automatic enrolment.

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Why choose Lighthouse ?

A Lighthouse adviser is prepared to work alongside you and develop personalised solutions to initiate an auto enrolment scheme into your workplace.

20+ Years Experience & Industry Accredited Awards

Extensive experience in auto enrolment schemes for businesses of all sizes

Practical solutions for financial security and peace of mind