I was wondering how are AccountingWeb practitioners are advising their OMB Employer clients on choosing pension providers to fullfil Employer Enrolment duties? Most of our OMB clients do not have pension provisions for their employees. These clients are only interested now, in work place pensions simply to fullfil their AE responsibilities as an employer.
In this situation, do they need to be directed to a FSA to choose a scheme? This is likely to incur around £500 to £1,000. Or can general practitioners (non FAS registered) simply direct them to the Pension Providers available, say to a one with public service obligation and let the employers make the decision? In years to come will our employer clients be negligent of enrolling employees in a non-suitable pension scheme? Does going through a FSA alleviate OMB employers from such claims or at least minimise such risks?
Some OMB clients do not have AE duties, because all the employees are directors. In such situation is simply letting TPR know sufficient? Can these directors choose to opt in? Has a General Practitioner obliged to direct them to a FSA?
Thank you in advance, for your comments.