When you can without a doubt think about there are reams of data in regards to the obligations companies have in giving continue staff that has a pension. The pensions service outlines what these obligations are, and below what situations a firm has got to deliver usage of a stakeholder pensions service for their workforce.
The Welfare Reform and Pensions Act 1999 states that a lot of businesses will have to offer their workers use of a stakeholder pension plan. This can be known the 'employer obtain requirement'. In influence it means employers really have to decide on a stakeholder pension scheme that permits your personnel to hitch ought to they choose to.
Exemptions into the employer obtain need
Feasible exemptions are:
· Employers are exempt into the requirement if they hire less than five people. This features any person over the payroll of the corporation this kind of as running administrators, but isn't going to involve self utilized people.
· If an employer offers an occupation pension scheme which is open up for workers to affix after a years company. It really is doable for employers to limit membership to workforce more mature than eighteen, and also to have more than five several years remaining right before retirement age.