Auto-Enrolment: Employers Should Seek Advice from Consultants

Employee benefits consultants or IFAs will advise on the most effective scheme to implement for your business, making sure your employees get the best deal possible.

Nigel Stanley, Head of Campaigns and Communications for the Trade Union Congress has advised employers to consult IFAs or employee benefits consultants about the impending workplace pension reforms.

His advice comes in the wake of comments from British Chamber of Commerce Director General, John Longworth, who considers that small firms are likely to default to using NEST, just because it is the simple option.

He feels that because many companies will not have travelled this road before, they will worry that other auto-enrolment schemes may not be suitable for their staff in the long term. They fear a future backlash in that employees may later accuse them of giving bad advice.

Nigel Stanley thinks this type of thinking will distort behaviour and may mean employees will not necessarily get the best deal. That’s why it is crucial firms seek qualified advice before embarking on setting up a scheme.

Source: www.moneymarketing.co.uk  16 November 2011 

For more information, contact Brunsdon at www.brunsdon.co.uk

Brunsdon LLP and Brunsdon Financial Services Ltd are authorised and regulated by the Financial Services Authority.

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