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How Bright Corporate Can Help

The Pensions Acts 2008 and 2011 will impact on every employer in the UK. Employers will fall into two categories: employers with existing pension schemes and those who do not currently make any pension provision.

Key to the Bright approach is taking time to understand exactly what the employer is trying to achieve. Once that is understood, clear and straightforward advice is given.

For employers without a scheme, the pension reforms have cost implications for both the employer and employees. Bright can help you with cash flow modelling, communicating the changes and deciding whether to enrol eligible employees into either a QWPS or to join NEST. For many employers and employees the legislation will mean additional cost, at what for many companies and individuals are difficult and trying economic times. Bright can provide you with guidance as to how to plan for the changes and the additional costs.

If you already have a pension scheme then Bright can help you to decide whether to make the scheme qualifying. To nominate an existing scheme it is necessary to ensure that the scheme is fit for purpose. Questions that need to be answered are:

Does the existing scheme design meet all the qualifying rules?

Will the existing scheme be supported by the provider?

Does the scheme offer value for money to the employer and the scheme members?

Bright can help you plan to meet the changes and provide you with cash flow modelling and advice on the potential cost savings and benefits of salary exchange.

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