Towergate launches off-the-shelf SME pension scheme

The pension is provided by HSBC and is specifically designed for workplaces with fewer than 20 staff. By October 2012, all employers must automatically enrol employees who pay income tax and have more than three months' service into a pension scheme. Employers who do not set up a private pension scheme can use NEST as a default. "We know that small firms do not feel confident in choosing a pension scheme because of its complicated nature and costs," says David Taylor, managing director of Towergate Financial. "We have developed with HSBC a simple and cost-effective solution, our...