Meeting automatic enrolment requirements
The law on workplace pensions has changed. Under the Pensions Act 2008, every employer in the UK must put certain staff into a pension scheme and contribute towards it. They must also consider re-enrolment for those who have ceased active membership. If you employ at least one person you are an employer and you have certain legal duties.
Understanding your duties and then implementing and maintaining a compliant automatic enrolment scheme can be daunting – there are some 250 pages of guidance notes, 33 additional employer responsibilities and penalties for non-compliance.
It is important to address the issues and make the relevant decisions as soon as possible, so that you are fully prepared for your staging date and re-enrolment duties. The process will involve numerous departments within your organisation including Finance, HR, Payroll and IT, so it cannot be rushed.
If you need assistance talk to us to find out how your organisation may be affected and what you can do to prepare. Our extensive services in this area include a health check of your existing pension arrangements, to see where action may be required, along with advice on your specific circumstances.
No matter what your needs, our experienced team will guide you through the maze of regulatory requirements to ensure your automatic enrolment obligations are met and to achieve a successful outcome for your business and your employees.