When you can little question consider you will find reams of data regarding the obligations businesses have in providing serps pension staff with a pension. The pensions company outlines what these obligations are, and beneath what conditions a corporation must supply access to a stakeholder pensions assistance for his or her workers.
The Welfare Reform and Pensions Act 1999 states that lots of employers must offer you their personnel use of a stakeholder pension scheme. This is recognized the 'employer entry requirement'. In effect this means businesses really have to pick a stakeholder pension plan that permits your workforce to join ought to they pick to.
Exemptions towards the employer access prerequisite
Probable exemptions are:
· Companies are exempt into the necessity if they make use of much less than 5 people. This contains any individual about the payroll of the organization this kind of as managing administrators, but isn't going to include self used people today.
· If an employer offers an profession pension plan that's open up for employees to join immediately after a yrs assistance. It's possible for employers to limit membership to workers more mature than eighteen, and to have a lot more than 5 many years remaining right before retirement age.