Auto enrolment – what is it? Workplace pension law is changing – If you employ people, you’ll soon have new duties to help them save for retirement.
This legislative change means every employer is obliged to automatically enrol workers into a workplace pension scheme if they are aged between 22 and state pension age, earning more than £9,440 a year, and working in the UK.
Are you ready?
Do you know your staging date? This is when you must register with the pensions regulator and provide information about how you have fulfilled your auto enrolment duties.
As well as your regular payroll and pension processes, there are additional things you will need to do to make sure your workers are enrolled and you remain compliant with the new legislation.
As an employer, you will be required to:
Start now – The key to automatic enrolment success is preparation
The Pensions Regulator recommends that you start to prepare for auto enrolment around 18 months before your staging date.
The first things you should do to start your preparation are:
Let us help you
If you’d like to have a chat about auto enrolment, give the Pinnacle Direct team a call on UK: 0843 453 0103 or ROI: 01 419 8990.
We’ll talk you through the software solutions available and how we can support you