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Staging dates for auto-enrolment applications and compliance

If an employee opts-in to a pension plan, there is a mandatory contribution level by both you the employer and the employee in the scheme. If the employer had a staging date of June 2014, their implementation and mandatory contributions would look like this.

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June 2014 - Sept 2016 1% Employee 1% Employer
Sept 2016 - Oct 2017 3% Employee Gross 2% Employer
Oct 2017 Onwards 5% Employee Gross 3% Employer

This reform is being introduced in stages to every UK company. This staging date is when a company must have a qualifying workplace pension scheme in place and start contributing, complying and auto-enrolling employees.

Due to the nature of this detailed process there is a huge number of schemes that need to be written over the months preceding this. Having a system in place that is set up and ready to handle the entire process beforehand can only be very beneficial to your resources and finances.

Each employer has already been issued their staging date, Which is available to you on the Pension Regulator site. The staging dates began in October 2012 and continue through to 2017. This is dependent on the size of the company's PAYE scheme or if the company is part of a subsidiary.

This may all seem daunting, but with our expert advice and jargon free, easy to use software, you'll be ahead of the curve and fully compliant in no time.

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Your auto-enrolment staging date is here. Make sure your company is compliant with the help of Thompson Prior 01746 716767