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Can I set a scheme up myself?

You could select a scheme, set-up and run yourself. However you would spend a large amount of time making sure the scheme is suitable for you and your employees, as well as familiarising yourself with workplace pensions legislation to make sure you are compliant and avoid a fine. It is estimated that you could take up to 100 hours to research, set-up and manage the scheme for the first year, time that would be better spent running your business. The cost of Simple Pensions advice is very competitive and it would certainly be more cost efficient to let us take the hassle away from you by advising and setting up your scheme.

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With the introduction of workplace pensions already underway for a number of larger businesses in the UK, it’s important that you act now and start preparing – there’s a lot that can be put in place earlier.

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