Temple Wealth Management

Auto Enrolment:

By 2018 all employers must automatically enrol their eligible employees into a pension scheme – known as Auto Enrolment.

Every company will receive a staging date, which is a date by which the scheme must become active. The individual dates are phased across the year so it can be managed. The larger companies were the first to stage and as we move closer to the final deadline small businesses are being sent their staging date.

Choosing the type of pension scheme for your business is fairly straight forward, however, the compliance and ongoing administration of the Auto Enrolment scheme is often underestimated.

The Pension’s Regulator has different penalties in place which affect small businesses that do not have the resources to prepare for them.

The table below shows a 516% increase in £400 fines in one year and over a colossal 46,000% increase in escalating fines in the same 1 year compared to the previous 3. These are mainly small businesses on which these fines have a large impact.

What is Equity Release?

As people live longer, funding your retirement can become difficult. Your home is often your biggest asset and releasing the tied up cash can help you reach your retirement goals. Equity Release allows you to enjoy tax-free funds as either a lump sum, regular instalments or a combination of both.

Our Independent Financial Advisers specialise in Equity Release. They will assess all the products on the market and advise based on your individual requirements and situation. We will guide you through every step and create a bespoke financial plan for you.