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ICS extends levy deadline until October

The Investors Compensation Scheme is extending the deadline for payment of the second instalment of this year&#39s levy from August until October 15 and says it does not anticipate an increase in the levy.

The extension is because the change from four to two annual instalments to get ready for N2 caused a delay in the first set of invoices being issued. They went out in June and July rather than May. The ICS says the levy for this financial year will raise £57.9m from providers and IFAs.

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Auto-enrolment — don’t leave it too late…

With auto-enrolment (AE) well under way for the UK’s largest businesses, over the next three years an additional 800,000 smaller employers (with less than 60 employees) will start their journey to comply with the legislation. AE mandates all eligible employees and their respective employers to make regular pension contributions into a qualifying pension scheme. To learn more about the legislation read our brief Jelf AEase — simple steps to AE compliance guide.

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