If you are employing anyone you should be gearing up
towards getting ready to pay into their pension.
Any employee e.g. foot care assistant or receptionist who is over 22 and earning more than £10000 will benefit from your business, because as an employer you will be required to make a minimum contribution of 1% of their salary towards their pension, rising to 3% from October 2018. Which on £10000 is £100 per year, rising to £300 per year.
It’s important to register and follow the government guidelines and frankly we at Real Time Reception are outsourcing all this to our Accountant to do the legwork. Our clients are, in effect outsourcing the employee pension problem to us, and by default to the accountant, which does seem to be giving the job to the best qualified person.
It is obviously necessary and a good thing to be helping your team to save for retirement, but what about your own pension? Lots of you will know Michael B Bennett accountant to the health professions who has written a really helpful and excellent article in Podiatry Now this month about the current pitfalls of withdrawing cash from your pension funds. Personally creating the pension fund in the first place was my concern; now I’m in the position where saving schemes are starting to mature and I’m trying to decide what to do for the best with these sums.
If you are not already, why not outsource your reception services to us, and save yourself a lot of money and hassle.
Take a look at the website or contact us on 0800 193 0121 or email [email protected]