This document outlines how an employer can assist their employees in saving for retirement through automatic enrollment in a group pension scheme. It discusses the key duties employers have, such as identifying staging dates, setting up a qualifying pension scheme, making minimum contributions, and assessing and enrolling eligible employees. It then provides details on the services a financial firm can provide to help employers design, implement, manage and promote an appropriate pension scheme for their employees in compliance with new legislation. These services include producing reports to review options and costs, implementing the chosen scheme, providing ongoing administration support, and offering financial advice to employees.

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G R O U P P E N S I O N S C H E M E P R O P O S I T I O N
Introduction
14 February 2013
The Government estimates that around seven million
people in the UK are currently not saving enough for
their retirement. So from October 2012 they have
introduced new legislation to get more people saving.
This will mean that employers will have to
automatically enrol certain employees into a Pension
Scheme and make contributions on their behalf.
Automatic enrolment will be a big challenge for
employers and we can help you fulfil your statutory
duties.
Employers – Key Duties
· Identify the companies ‘staging date’ when
automatic enrolment will be required.
· Set up and contribute to a Pension Scheme suitable
for automatic enrolment.
· Provide information and be careful not to provide
advice on the Pension Scheme to the jobholder.
· Meet minimum contribution rates of 8% in total, with
the employer paying 3% minimum by 2018.
· Deduct any jobholder contributions from salary and
make contributions on their behalf.
· An assessment of all workers is required to establish
if they are eligible, non-eligible or entitled.
· Report to The Pensions Regulator (TPR) monthly, the
amount of contribution on behalf of each
employee.
· Comply with all opt in and opt out legislation for
eligible staff monthly.
· A decision needs to be made on whether to certify
that your scheme meets the contribution quality
requirement as an alternative to using qualifying
earning.
· Re-assess worker type every 3 years and re-enrol
opt outs.
· Keep full records for TPR to access if required.
How we can help
All employers will need to design, implement and run
their own Pension Scheme and we are able to assist
with part or all of this process.

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Design of your Pension Scheme
Report 1 – Staging Date
What we need from you: Company name, number of employees and PAYE reference numbers
What we will provide: A report to fully inform you of your duties and responsibilities under the Auto
Enrolment Legislation.
Cost: Free
Report 2 – Review Current Pension Scheme
What we need from you: A signed Letter of Authority to contact your existing pension provider on completion
of the Employer Fact Find.
What we will provide: A report to provide a comparison of how your existing scheme compares to the
new legislation and highlights the changes that need to be implemented. You will
understand where your scheme falls short and what can be done to rectify this.
Cost: £600
Report 3 – Assess Workforce & Model Different Options
What we need from you: A salary roll with date of birth for all employees.
What we will provide: A report to allow assessing exactly what you need to implement for each
employee and know the exact cost. We will design the right scheme for you, apply
salary sacrifice, contribution phasing, self-certification and provide estimated take
up calculations. We will also suggest the best type of scheme, the most suitable
provider and negotiate the best terms available.
Cost: £750
Implementation of Company Pension Scheme
Once the Pension Scheme has been designed you
will be required to implement the scheme for the
benefit of your employees. We are able to assist in
the following ways:-
· Group presentations to communicate the
scheme to staff.
· Employer branded communication material
and microsite.
· Sign up of members.
· Project manage the establishment of the
scheme.
· Distribution of scheme documentation to
members.
Cost per Member:
£220 for first 50 Members
£100 thereafter
Minimum Fee: £2,000

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On-Going Management of the Pension Scheme
The Pension Scheme we establish will incorporate a
software package allowing liaison with the scheme
provider direct for most administration requirements.
There are still other areas of assistance that will be
required with which we can help.
· Employer pension scheme queries.
· Advice on changes in pension legislation.
· Annual review of the scheme provider’s
performance and service.
· Investment governance.
- It will be necessary to review the default
fund options for the scheme annually.
- Review of employees risk profiles every 3
years.
· Conduct salary sacrifice calculations annually.
Minimum Annual Fee: £1,000
Member Support Package
By providing a member support package, any
question of the employer supplying advice, albeit
inadvertently should be avoided. This will afford you
significant legal protection as well as providing an
excellent ‘financial advice’ benefit to all staff.
· Member Surgeries
- Provide allocated days in the workplace for
general financial advice.
· Retirement advice and annuity broking service
for retirees.
· Individual Member Advice can be provided
and the cost of work conducted will be
discussed with the individual directly.
Member Surgeries: £850 per day
Summary
Significant changes are being forced on employers
to provide workplace pensions for all qualifying
employees. The experience to date from the larger
employers is that take up rates have been much
higher than expected resulting in significant
administration and cost.
It is important to design and implement a scheme
which reduces your administration burden as far as
possible. Remember relying on National Employment
Savings Trust (NEST) will mean you are dealing with
The Pensions Regulator (TPR) direct and you will
therefore need to design systems which comply with
the legislation and constantly monitor your
workforces age, salary, opt-in and outs and
investment governance etc. yourself.
By using our services we will design the best pension
solution for your company. This will mean in most
cases a pension provider will be recommended
which will install a software package within your
company to reduce the administrative burden and
ensure you stay within the legislation at all times. The
pension solution should also be superior for members
as the scheme will be designed for your company
and will have the widest fund range and most
competitive charging structure which will assist with
staff retention.
We are able to communicate the benefits of the
pension scheme to all staff and implement without
the risk of you being accused of providing advice.
On-going governance can be installed at both
board and staff level to ensure the scheme remains
compliant and employees have access to quality
financial advice.
With regard to the cost of the overall service, we
believe that this is extremely competitive, particularly
considering the administrative savings that will be
made within your company.

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C O N T A C T U S
For more information on the Group Pension Scheme Proposition and to arrange a discussion with Gracechurch Wealth
Management LLP, please contact us.
Jason Bevan (jason.bevan@gracechurchwm.co.uk)
David Hine (david.hine@gracechurchwm.co.uk)
Tel: 01908 209220
Web: www.gracechurchwm.co.uk
Gracechurch Wealth Management LLP
EFX House, 1 Boycott Avenue, Oldbrook, Milton Keynes, MK6 2RW
A B O U T U S
Gracechurch is a leading firm of Financial Advisers, providing a wide range of professional advisory services to owner
managed businesses and private individuals. Gracechurch thrives on its work with entrepreneurial businesses and their
people. Gracechurch works closely with its clients, delivering proactive and innovative advice. Our focus is on building
long term relationships with our clients to help them and their businesses succeed, reduce taxation and create,
increase and protect wealth. Gracechurch offers a breadth of technical expertise and specialist advisers across six
integrated service areas: Pensions Advice, Investment Planning, Business Protection, Family Protection, Long Term Care
Advice and Inheritance Tax Planning.
This document has been prepared as a general summary. It has been written for information purposes, should not be relied upon and is not a substitute for professional advice
which should be sought. This document does not constitute taxation, financial planning or investment advice. Gracechurch Wealth Management LLP or any of its employees
will not accept any responsibility for loss or damage incurred as a result of acting or refraining from acting upon anything contained in or omitted from this document.
Gracechurch Wealth Management LLP is authorised and regulated by the Financial Services Authority {registered in England No OC320661}. Registered Office: EFX House, 1
Boycott Avenue, Oldbrook, Milton Keynes, MK6 2RW.