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09/07/2001
SHAREHOLDER PENSION LEGISLATION GUIDE LAUNCHED
AN independent guide for small businesses on the detailed requirements of the new shareholder pension legislation has been published.
The guide, by Is4profit, the internet-based business information and advisory service for SME’s, supplies a step-by-step approach for small firms with regard to the new legislation.
Managing Director Brian Jack said: “There remain only three months to the date when all UK companies must be compliant with stakeholder laws. After 8 October, companies will be liable for penalties of up to £50,000, and individuals up to £5,000, if a stakeholder scheme has not been put in place.
“The danger is that if companies try to rush the process of setting up a scheme, they may end up with an inappropriate arrangement.”
Mr Jack added that the track record of providers was clearly a consideration, but it was also important that SME’s did not underestimate the bureaucratic burden they were under.
The guide can be downloaded from www.is4profit with added links to regulators, providers and sources of impartial advice and information. (MB)
The guide, by Is4profit, the internet-based business information and advisory service for SME’s, supplies a step-by-step approach for small firms with regard to the new legislation.
Managing Director Brian Jack said: “There remain only three months to the date when all UK companies must be compliant with stakeholder laws. After 8 October, companies will be liable for penalties of up to £50,000, and individuals up to £5,000, if a stakeholder scheme has not been put in place.
“The danger is that if companies try to rush the process of setting up a scheme, they may end up with an inappropriate arrangement.”
Mr Jack added that the track record of providers was clearly a consideration, but it was also important that SME’s did not underestimate the bureaucratic burden they were under.
The guide can be downloaded from www.is4profit with added links to regulators, providers and sources of impartial advice and information. (MB)
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10 August 2001
Companies urged to meet stakeholder deadline
Companies in Northern Ireland with five or more employees have been advised to act now to meet their responsibilities to provide access to stakeholder pensions for their employees. The Department for Social Development (DSD) has written to employers reminding them that they have until 8 October to make such provision.
Companies urged to meet stakeholder deadline
Companies in Northern Ireland with five or more employees have been advised to act now to meet their responsibilities to provide access to stakeholder pensions for their employees. The Department for Social Development (DSD) has written to employers reminding them that they have until 8 October to make such provision.
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Northern Ireland WeatherThis Evening and Tonight:Remaining rather cloudy. The afternoon showers in the west ease during the late evening, before building again overnight. Some clearer spells for a time in the east before cloud builds around dawn. Light winds. Minimum temperature 8 °C.
