A helping hand for pension auto enrolment
About auto enrolment
Are you aware that workplace pensions have changed? Now, all employers must auto enrol their staff into a workplace pension scheme and make contributions
on their behalf. If you don't do so, you could face fines of up to £10,000.
Auto enrolment is a government initiative to ensure that everybody saves enough money to see them through their retirement years with a decent pension.
As an employer this has direct implications for you regardless of how many staff you employ. Every single business that employs staff is affected by
this new legislation. Our best advice to you is to be informed and prepared, and that's where we come in.
Your auto enrolment responsibilities
If you are an employer there is a long list of auto enrolment responsibilities (33 in fact) that you need to be aware of and working on, in order to stay
compliant. The Pensions Regulator (TPR) guidance document runs to a lengthy 250 pages and it's definitely not something you can scan through and action
without careful consideration. Your new auto enrolment responsibilities include:
- Choosing a pension provider and deciding on a scheme
- Assessing your staff to find out who needs to be enrolled
- Communicating the new scheme to your staff
- Handling opt ins, opt outs and refunds of contributions
- Liaising with your pension provider each week or month to ensure that the correct information is provided to deduct accurate contributions from payroll
- Keeping records to demonstrate compliance with the legislation
...and 27 additional duties too! Now is absolutely the right time to stay on top of auto enrolment - or face up to the consequences.
Auto enrolment - take action now
Your auto enrolment staging date is when auto enrolment needs to kick in for your business. If you don't know your staging date contact us and we'll let
you know. The Pensions Regulator expects over 750,000 businesses to stage between 2015 and 2017 so don't try and forget about it. You'll need to start
working on your auto enrolment policies right away.
If you're really prepared, your pension scheme can be set up and registered years in advance of your staging date so you'll beat the rush to comply. You
won't need to make any pension contributions until your staging date comes into play and it would be a good idea to be ready and compliant for when
the time comes. Take advantage and avoid the rush now, later on there may be fewer organisations with the staff to support you.
Read our auto enrolment pension services for employers FAQs
We're here to help with auto enrolment
We're ready and waiting to support you with auto enrolment. Our team of experts can help you with the plain and simple facts and what you need to do. Put
simply, we'll make auto enrolment compliance easy for you and we'll streamline the process from beginning to end.
Here are just a few ways we can help, we will:
- Explain your responsibilities clearly, support you and demystify the jargon
- Set your scheme up with The Pensions Regulator
- Provide an ongoing auto enrolment service as part of our payroll process, delivering an all-in-one, cost effective and regularly assessed solution
by cutting out the middle man
- Make sure you fully comply with auto enrolment legislation and remove the risk of non compliance fines
- Work with you if you decide to go with NEST, People’s, NOW or existing pension schemes - we can provide administrative support and 'always there' peace
of mind for you
- Communicate the auto enrolment changes to your staff and support you in answering any questions they may have
Why not contact us to find out about our auto enrolment pension services for employers? It's a complex and potentially expensive issue if you fail to comply.
Let us take the strain so you can relax with peace of mind, knowing that auto enrolment is being taken care of and your company is protected.