Workplace Pension Guidance

Many small employers have still to arrange their workplace pension schemes and register their scheme with The Pension Regulator, so here is some further guidance.

The Pensions Regulator send letters to all employers 12 months, 6 months and one month before their staging date, informing you of your duties. The Pensions Regulator website has an online duties checker you can complete to find out what you need to do and when.

If you have yet to choose a pension scheme and don’t know where to start, there is some information here which can help you choose a pension scheme, with a list of providers who can offer pensions to small employers. Not all schemes offer the same level of services and some will charge more than others.

If you already have an existing pension scheme, you will need to check with your pension provider whether it is a qualifying scheme for automatic enrolment. If not, you will need a separate scheme.

If your business only has directors and does not have any staff, you may be exempt, but it is important to check and if you are, you will still need to inform The Pensions Regulator that you are exempt. Again, the online duties checker will confirm what you need to do.

If you only have one employee with earnings under the threshold, you still have legal duties to meet. You will need to tell your staff about automatic enrolment as they can still choose to opt-in to a pension scheme. You will need to complete and submit a declaration of compliance to let The Pensions Regulator know what you have done to meet your duties.

The declaration of compliance must be submitted on time, within 5 months of your staging date, so do not leave it to the last minute and risk the chance of penalties or fines!

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