Pension provision

Your staff may thank you for considering their future when it is time for them to retire.

During these times of economic turmoil many practice staff are concerned for their present position and also their financial security in retirement.

Media speculation is rife about proposed Government changes to workplace related pension schemes, and your employees will naturally turn to you as their employer for advice, help and support.

You need to fully understand the legal responsibilities your practice has to the employees, including your responsibility to keep them informed on matters relating to their pensions. Whilst the prospect of discussing staff pension rights and employer obligations is hardly exciting, the process is usually beneficial for both parties. Individual staff members will recognise the value of a pension scheme as part of their employment package, and their improved understanding will enable more enlightened planning for their retirement. As an employer, you are likely to find offering an attractive pension scheme assists in the recruitment and retention of quality staff, and it may also reduce your tax and National Insurance liabilities.