Automatic Enrolment is a government led scheme, intended to get more people saving for retirement. It affects any person/business who has at least one employee, throughout the UK.
Under the legislation, all UK employers are required to automatically enrol their eligible employees into a qualifying workplace pension scheme. Both the employee and the employer must make minimum contributions into the scheme.
As an employer, whether you are a long-established business or a brand new start-up, it is imperative that you continually assess your employees and review your auto-enrolment procedures, to ensure that you are compliant.
Re-enrolment typically takes place three years after the employers original staging date, or duties start date, and every three years thereafter.
On your re-enrolment date you will need to re-assess your workforce and re-enrol any eligible workers who have left the qualifying auto enrolment pension scheme, back into a qualifying pension scheme. You must also produce the relevant statutory communications and issue these to employees within six weeks of their re-enrolment.
A Re-Declaration of Compliance must be completed and submitted to The Pensions Regulator within five months of the re-enrolment date. This must be completed for every employer, even if there are no changes or no one was re-enrolled into the scheme.
GH Payscheme can help you with your ongoing auto-enrolment and re-enrolment duties, including assessment, communications and submitting a declaration or re-declaration of compliance.
Does Auto-Enrolment apply to you?
If you have at least one employee, Automatic Enrolment duties will apply. The only time that they do not apply is when a company or individual is not considered to be an employer.
If you are unsure about whether or not you are required to comply with automatic enrolment, contact our professional payroll bureau today – we can discuss your circumstances with you and help you to determine the appropriate next steps.
Read more about how we helped one client to fulfil their auto-enrolment obligations in our case study, here.
At GH Payscheme, George Hay’s specialist Payroll Bureau in Biggleswade, Letchworth and Huntingdon, our team can assist you with administering your chosen workplace pension scheme and help you to ensure that you comply with all of the requirements of Automatic Enrolment.
We can also offer you access to independent financial advisers, who can help you fulfil your pension obligations.
For more information about our Payroll services or Automatic Enrolment services in Bedfordshire, Cambridgeshire, Hertfordshire and beyond, please contact us.