Under the Pensions Act 2008, every employer in the UK must put certain staff into a workplace pension and pay into it. This is called ‘automatic enrolment’.
The Pensions Regulator is responsible for ensuring that all employers comply with workplace pension law. It’s important that you understand what you’ll need to do and prepare early.
Does it apply to me?
Whether you’re a law firm, a restaurant, a hairdressing salon, have a personal carer or a nanny, you are an employer from the day your first employee started working for you and you have legal duties.
What do I need to do?
What you need to do will depend on whether you have employees who need to be put into a pension scheme or not. Employers will need to assess their new workforce for auto enrolment, carry out all the appropriate actions need establish a pension scheme and complete an online declaration of compliance to tell the Pensions Regulator what they have done in respect of automatic enrolment.
Contact us to find out what you’ll need to do for automatic enrolment and how we can help you.
Understanding what it will cost you
You may need to think about one-off costs to set up automatic enrolment, as well as the ongoing cost of paying money into the scheme and managing the process.
We will help you understand all the financial obligations and commitments of automatic enrolment.
Ongoing duties and responsibility
Employers will be required to:
- Assess all new employees for eligibility for auto enrolment
- Register all eligible new employees with the pension scheme
- Post the member’s pensionable pay and the combined pension contributions on the member’s pension scheme record each month
- Update member pension records as employees leave your employment.
Update member records, notify the scheme administrators of employees opting out of the scheme, taking a break from paying contributions and restarting after a break
Guidance and support
Auto Enrolment SMEs Ltd will give you peace of mind by being there to guide and support you in meeting your automatic enrolment duties and legal responsibilities