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Everyone is going to feel swamped, do try to get one step ahead of the process.
If you leave it late it’s possible there could be delays with your application.
Some pension providers may even reach capacity and decline new company pension applications.
More importantly, which is the right retirement plan for you – as a business owner and / or a self-employed individual?
Choosing the best retirement plan for you and your personal financial goals will depend on a few factors. As a small business owner, you are likely busy running your business and haven’t had the time to research the best retirement plan for your firm.
Ideally, you will be saving in the range of 10-20% of your gross income each and every year.
If you are getting a late start, you may need to save even more.Figures from The Pensions Regulator (TPR) reveal that more than 95 per cent of the small employers required to put their staff into a workplace pension by June 2016 had complied with the law.To the end of September, almost 257,000 employers had completed their automatic enrolment duties and enrolled over 6.7 million workers on to an auto enrolment pension scheme.Enrolsme is a complete online automatic enrolment solution.A small business can set-up a workplace pension using Enrolsme in just 30 minutes.Be prepared to work with your chosen provider to make the auto enrolment process as straightforward and manageable as possible.Try to work with an organisation that has real experts when it comes to automatic enrolment and can offer you good support and guidance. So many companies will be turning to their financial advisers, accountants or payroll providers.And before 28th February 2016, they can also benefit from a £500 off incentive using code: MM500.You might need more money than just the State Pension when you retire.At the end of the day, an employer that doesn’t need to stage until 2017 could set up as early as they want.Complete the forms now and then put your workers into a workplace pension at the right time.