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Is your business compliant with the new auto enrolment laws for work place pensions?

The main reason auto enrolment legislation has been put in place is because not enough of us are putting money aside for retirement. As more people are getting the benefits of great medical care than ever before in history, we are now seeing much longer retirement periods because of this.

The government has set up this new scheme in a way that is staggered in order to help businesses adapt to the changes over time. It is a legal requirement and heavy fines can be accrued if your business is non compliant. Don't worry though, our auto enrolment software makes joining the pension scheme an easy process that can be maintained with the minimum of fuss.

Whether you have 50.000 employees or just 1, you need to ensure that all eligible staff are enrolled into a pension scheme. If you are a large company the law has already been in effect since October 2012. If you are a smaller employer you will have to follow the regulations shortly after the larger businesses.

What you need to do

  • Your business must provide a qualifying workplace pension scheme
  • You need to know which employees are eligible and automatically enrol them
  • Pay at least the minimum requirement into employees' pensions
  • Communicate to your eligible employees that they have been enrolled and that they can opt out if they so choose
  • If employees opt out, remember to re-enrol them every three years. And if their status changes, keep on top of this at every pay period
  • Continually communicate with the pension regulator about who has been automatically enrolled or who has opted out, and the pension scheme(s) chosen
  • You must keep detailed records for a minimum of six years

All of these functions and many more can be managed by our simple, efficient cloud based software that easily integrates with your existing payroll systems.

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We make auto enrolment easy, call today to make sure your business complies. Our advisors in Bridgnorth can help 01746 716767