Automatic Enrolment: Are you ready?

We have talked about this before, but it certainly bears repeating. Up to half a million small and micro employers will reach their staging date in the next 12 months and many will not be ready in time and could risk fines. The Pensions Regulator has written to every employer alerting them to when their auto enrolment duties start and reminding them to act. Despite the message to act early, it is expected that many employers will leave it too late or take no action at all. Don’t let this be you!

If you believe you do not require a workplace pension because you have no employees or have directors only, you must still inform The Pensions Regulator of this. Click here and answer the questions to determine if you need a scheme or not. You will need your letter code issued to you by The Pensions Regulator and your PAYE reference number.

Even if you have only one employee, you must do the following:
* know your staging date
* set up a qualifying pension scheme
* assess your workforce
* communicate with the workers
* enrol appropriate workers
* make contributions
* submit the declaration of compliance

Your first port of call should always be The Pensions Regulator website which will steer you through all your duties.

As a payroll bureau, we can assist our clients with all ongoing pension duties such as the assessing of workers and deducting the necessary contributions through their payroll, but choosing a pension provider, setting up that scheme and completing the declaration of compliance with The Pensions Regulator is the responsibility of the employer.

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Tania

Tania has over 30 years payroll experience, 21 with a UK Top 10 accountancy firm.
Tania

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