Setting up an employers pension

Deep_Ocean

As a finance manager for a small company I am tasked with researching the best pension plan to offer the 6 employees in the company.

I have not dealt with pensions before as I am used to more of an accounting role so I wondered if any members who are experienced in this area could offer any advice of the best options and best providers?

xylophone

http://www.icaew.com/en/library/subject-gateways/pensions/small-business-update/action-list-how-to-set-up-a-pension-scheme
might be worth a browse.
http://www.guardian.co.uk/money/2012/jun/04/nest-pension-flaws

http://www.lovemoney.com/news/savings-investments-pensions/pensions/17465/auto-enrolment-the-alternatives-to-nest

http://www.youatwork.com/?gclid=CMyyxr_A7bUCFczHtAodJ3UAqg

Look into salary sacrifice?

clare_bear_2

I am in the same position, I began investigating this some time ago but have not really done much about it - our auto enrolment date is August 2016 but we would like to get something in place sooner ideally within the next few months.

I have looked at NEST and ruled it out because of the very limiting restriction - I fear that most small businesses will go down this route due to it's low fees - it should be cheap and easy to set up and it will meet the requirements imposed on employers by the government. From a company point of view I don't want to go down the cheap and easy route - if we are offering a pension scheme to our employers and essentially investing our own money into a pension pot for our employees I want it to be worth something - it should be a real benefit to our employees not just something we have to set up to meet government requirements.....

So currently I am toying with the idea of paying an IFA but this does seem like a significant expense for a small company.... The other option I have come across to date is NOW pensions who seem like a reasonable company with low fees.

I had already read the top two articles in my search for a pension scheme but have yet to read about lovemoney and youatwork, I will do this over the next few days...

I would like to hear from any other employers who have made a decision, I realise I have to weigh up everything and find the best solution for our company but a little informed advice will be nice!

Thanks in advance

Clare