Charity Finance Group have written a “refresh” blog on pension auto-enrolment for small and micro charities which are coming up to their staging dates.
“All charities that have at least one paid worker will have automatic enrolment duties. Charities need to assess their staff, put those who meet certain criteria into a pension scheme (and make contributions to it), tell them what you’ve done, and complete a declaration of compliance.”
» Continue reading news item ... “Reminder, and advice, for small charities on pension auto-enrolment”
Practical guidance for small organisations on how they can prepare for pensions auto-enrolment regulations has been published by Charity Finance Group.
The publication aims to support the estimated 20,000-plus charities due to be auto-enrolling their staff between 1st January 2016 and 1st April 2017, with advice on how to prepare, implement and build processes. It urges them to plan early and budget for additional costs created by auto-enrolment. » Continue reading news item ... “Advice to small charities on pension auto-enrolment”
Assessing employer fund contributions
As reported by Civil Society News, The Pensions Regulator has produced specialist guidance on how to assess the strength of charities and not-for-profit organisations when considering required contributions to combined pension funds.
Where charities are members of pension schemes run, for example, mainly for public sector workers in health or local government, they are often asked to contribute more money because the ability to guarantee payment in the future is considered to be weak. » Continue reading news item ... “Charity pensions update”
Charity Finance Group has published its latest Small Charities Finance Update, with information on financial best practice and insights from finance professionals. Topics this time include Is your funding a grant or a contract?, The new SORPs explained, Managing staff during a restructure and Navigating the pension maze.
Issue 2 March 2015 available in pdf, 1.3MB via http://www.cfg.org.uk/resources/resources-and-updates-for-small-charities/small-charities-finance-update.aspx.
The latest Pension Maze publication from Charity Finance Group, six years on from the last edition, seeks to guide charity financial leaders through the complex world of pensions.
As well as the guide ‘Navigating the Charity Pension Maze 2014’ (pdf, 852KB), the CFG press release links to a manifesto setting out issues which need to be addressed.
The Charity Commission is reminding charities that they should use their Trustees Annual Report to explain how they are tackling the potentially serious risk of a pension scheme deficit. A recent review of a sample of charities with a deficit and an income over half a million pounds found that less than a third had included an explanation of the financial implications and plans to tackle the issue. » Continue reading news item ... “Need to explain charity pension deficits”