You can use ANY pension provider with your benefits portal.
We know pensions are complicated so let BORIS help you to communicate
everything to your employees.
You might have different schemes for your employees or one scheme with different eligibility rules. Whatever your set up, BORIS can communicate it. We have seen it all before!
Pensions FAQ
Every company in the UK has to offer their employees a pension scheme that meets certain criteria. The important thing is for you to communicate this valuable benefit to your employees. As it is likely you already have a pension scheme in place, simply select the relevant provider and the portal will automatically be set up for your employees with wording for you to amend as required.
What is auto-enrolment and re-enrolment?
Auto-enrolment (AE) describes government legislation that came into effect in 2012 which states that every business must provide all UK employees with a qualifying pension and must pay into that pension. There are certain parameters that determine which employees need to be auto-enrolled, and how much employers must pay in. Use BORIS to communicate your scheme rules and any relevant literature.
Re-enrolment is required every 3 years after your company’s staging date (your original enrolment date).
Can I use your portal if I auto-enrol elsewhere?
We are all about the communication of benefits, regardless of who provides these benefits! Our platform will fit in with any provider for your pension and other benefits.
Salary Sacrifice
Allowing your employees to make their pension contributions via ‘salary sacrifice’ will enable them to save National Insurance and Income tax at their highest marginal rate. And in addition, the company saves Employer’s National Insurance (13.8%) on the ‘sacrificed salary.’ This saving can either be put towards other benefits or passed back to the employees via increased pension contributions. If you are not already offering this option, please speak to your adviser or ask BORIS for more information.
Multiple Pension Schemes
BORIS has no problem in accommodating more than 1 pension scheme. You can add as many pension schemes as you like. You will need to specify the eligibility rules for each scheme. Ask BORIS to help if you are unsure.
Final Salary Schemes
BORIS can communicate these schemes too. Simply add a new pension scheme and follow the instructions. Don’t forget to include the scheme rules.