Pearson Jones experts outline Auto-Enrolment benefits and how to protect the prosperity of a business

BUSINESSES worried about Auto-enrolment cannot avoid this new pensions regulation but can take advantage of the opportunity it presents, according to a pensions expert.

Matt Vosper, pensions consultant with Yorkshire independent financial advisers Pearson Jones, said that the new AE regulations will look daunting to firms.

“There is no getting away from the cost of it, those that do will be penalised by the pensions regulator. But what we are speaking to our clients about is can you turn that cost on its head and turn it into an employee benefit?

To see a short video interview with Mr Vosper click on the screen below.

[VIDEO: 693]

Mr Vosper, who was speaking at a seminar at the Double Tree by Hilton hotel in Leeds for business owners and advisers organised by Pearson Jones in association with TheBusinessDesk.com, said that the AE legislation which requires every employer to provide a qualifying workplace pension scheme was driven by statistics showing the ageing UK population.

He said that in 1917 the Royal Household sent 24 messages of congratulation to people who had reached their 100th birthday, in 1952 it sent 255 messages and in 2011 it sent 9,700 to British centenarians.

Graham Davis, risk benefits consultant at Pearson Jones, told the audience about ways that they could protect the prosperity of their business.

“Business continuity planning includes what is known as key man insurance. But how do you know who your key people are? Well think about who is missed most when on holiday?” he said.

Mr Davis also discussed partnership or shareholder cover for death or critical illness.

To view a short video interview containing more details click on the screen below.

[VIDEO: 695]