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Pensions Auto Enrolment
Over the next few months many employers will be receiving letters from The Pensions Regulator advising them of their staging date for pensions auto enrolment. Employers will need to enrol many of their employees into a work based pension scheme and pay pension contributions for these employees.
When does it start?
Determine the staging date for your business by entering your PAYE reference here. If you believe you have more than one PAYE scheme or are a part of a larger PAYE scheme we can advise you on your staging date so please check with us.
What will it cost?
Auto enrolment is likely to result in additional costs being borne by your business. The costs to you will depend on the type of workers, generally employees you have in your business, their salary levels and whether or not you currently make pension payments for them.
Please contact us if you would like us to assist you in the initial planning work and to advise you of the cost implications to your business of auto enrolment.
Which pension provider?
Your responsibility as an employer is to have an appropriate pension scheme in place and you will generally need to apply to that scheme some months before the staging date.
Letting employees know
There are some communications that you, as an employer, must send to your workers. These need to be sent around the time of the staging date but there are precise dates by which you must supply information.
Enrolment of workers and payment of contributions
The enrolment of workers into a pension scheme and the calculation and payment of pension contributions to the scheme will require quite a lot of work so please get in touch to see how we can help.