Workplace Pension law has changed and every UK employer has had to take action as a result. The new law requires all employers with one or more workers to automatically enrol certain members of their workforce into a workplace pension scheme. They will have to deduct an employee contribution from their salary and also make an employer contribution to the scheme.
This law came into force for employers between 2012 and 2018, the exact “auto-enrolment staging date” for each employer to be determined by company size. It is expected that all businesses will have staged by 2018.
The Pensions Regulator suggests that all employers complete 7 steps to help prepare for automatic enrolment:
1. Know your staging date – first you need to know when you will have to act
2. Assess your workforce
3. Review your pension arrangements
4. Communicate the changes to all your changes to the workforce
5. Automatically enrol your “eligible jobholders”
6. Register with the Pensions Regulator and keep records
7. Contribute to your workers pensions
We can help employers of all sizes with every stage of auto-enrolment preparation.
Please contact us for more information;
T: 01474 709605