Pension and Auto Enrolment Service

 

Managing workplace pensions can be time-consuming; demanding and complicated to organise. We have put together a comprehensive solution for your company.

 

The law on workplace pensions has changed. Every employer with at least one member of staff must legally enrol those who are eligible into a workplace pension scheme and contribute towards it.

This is called ‘automatic enrolment’ because it is automatic for your employees – but it is not automatic for employers.

Auto-enrolment is legally binding and applies to every company (even Director Only companies must submit relevant declarations to The Pensions Regulator). It is advised that companies spend 6-9 months planning before the staging date arrives, this is to allow time to consider the following points:

  1. Assessing workforce for eligibility against defined criteria
  2. Selecting a relevant pension scheme
  3. Legal communications with staff at the correct time
  4. Determining what constitutes employees qualifying earnings
  5. Pension Scheme Set-up
  6. Registration with The Pensions Regulator
  7. Declaration of Compliance
  8. Employees Re-assessment
  9. Contributions and eligibility assessed on a period by period basis
  10. Manage opt-ins/opt-outs and refunds
  11. General record keeping and audit trail

 

Please see the diagram below for an overview of the employer’s obligation.

Auto enrolment

 

Non-compliance will result in penalties ranging from £400 fixed penalties up to £50,000 civil penalties for companies failing to engage in auto-enrolment.

To find out your Staging Date – access this link on the Pensions Regulator website http://www.thepensionsregulator.gov.uk/employers/staging-date.aspx

 

How Can We Help?

As Payroll and Pensions experts we can provide an all-in-one, cost effective solution to manage your payroll and pension schemes.

By choosing our service, you will not need to employ any extra staff or invest additional resources to manage a pension scheme.

We can take care of all legal obligations regarding PAYE and Pensions to relieve the extra burden on your company.

  • Select appropriate pension scheme relevant to your companies’ requirements
  • Custom set-up of pension scheme
  • Registration with The Pensions Regulator
  • Assess employees eligibility against defined criteria
  • Provide relevant communications at each stage of the employee’s enrolment journey
  • Complete Declaration of Compliance in line with legislation defined by The Pension Regulator
  • Calculate and upload pension contributions into the scheme
  • Monitor and action opt-ins/opt-outs
  • Re-enrolment every 3 years
  • Provide a full PAYE service and payroll operation to work seamlessly with your Pension Scheme

We are also always on hand for expert advice should you need it.

 

 

To discuss this further or for any more questions you may have please contact us