Pensions Legal Advice Scotland
Changes to pension rules, or payments into pension schemes, can cause difficult employment law and HR issues. You need to get this right.
Pensions Lawyers Edinburgh, Tayside, Fife, Central Scotland
Pension reforms in Scotland and across the UK require all businesses to automatically enroll employees who are eligible into a suitable qualifying pension scheme. Employees may however opt out if they do not wish their employer to do so.
Under the new rules, employers must pay a minimum employer contribution that is based on the employee’s earnings, and must also collect and pay the employees contributions.
All employers will be phased into the new scheme and will be required to comply with the law by 2018. There is a default statutory scheme – NEST – which complies with the law and which employers may elect to use. However, there are disadvantages with the NEST scheme, such as flexibility, and it is worth considering schemes by other pension providers.
Different pension schemes will be more suitable for different kinds of employees and it is up to the employer to choose which is the most appropriate, which can be difficult without the right advice.
Other Pension Issues – Final Salary Pensions
There are still many employees who benefit from defined benefit – or final salary – pension schemes. The rules governing these schemes are complex and you need specialist advice.
Thornber Employment Law’s pensions lawyers can offer advice and assistance in compliance with the law on pensions in Scotland as it affects you.
Contact Thornber Employment Law – Pensions Legal Advice
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We advise clients in Fife, Lothian, Tayside and across Central Scotland. If you are looking for clear, practical help regarding pensions from a real expert, give Ben a call today on 01383 27 2000 or fill out our online enquiry form – arrange your initial discussion about pensions or about any other employment issue today.