Where enrolment is an automatic process for eligible members of staff, it is not for business owners.
This is something that you must take a responsibility for as an employer, and even if you already have a pension scheme in place, you must check that it qualifies for auto enrolment. Our payroll bureau holds a wealth of experience supporting our clients through changing legislation and compliance, including auto enrolment.
Who's eligible for a workplace pension?
- Employees who are not already enrolled into a workplace pension
- Any employee aged between 22 and State pension age
- Employees earning over £10,000 a year
- Employees working in the UK
What your duties are as an employer
- Check your staging date
- Understand how your work-force is categorised under the new legislation
- Inform your workforce that they have been or will be automatically enrolled, what this means for them, and highlight they have the right to opt out and the right to opt back in.
- Provide the scheme with details of the job holders
As an employer, enrolling your team is a legal duty. We will assist you at every step of the process and can help with services including:
- Advice on tax implications
- Advising on the impact of auto enrolment on your business
- Ensuring you fulfil your legal obligations
- Preparing letters to staff and completing the declaration
- Providing the on-going assessments and reporting requirements of auto enrolment, as well as providing our standard payroll services where necessary
What you need to know as an employee
When it comes to pensions there are a lot of options, however a workplace pension under the new regulations is an automatic process. Saving for a pension is worth it and saving into a workplace pension is easy.
- Your employer will automatically enrol you
- You have the option to opt-out of the scheme
- It's never too late to be making contributions
- You and your employer will be making contributions
Under the Pensions Act 2008 every employer in the UK, employing at least one employee has certain legal duties to enrol certain staff members into a pension scheme and contribute towards it. Whether you run a business, or employ people in your home, you have a duty to automatically enrol employees in a pension scheme. Don't get caught out.