What is it?
Automatic Enrolment ("AE") is a legal obligation requiring every employer to carry out ongoing assessment of their employees and to enrol those employees who meet the criteria into a workplace pension scheme. Both the employer and the employee will then make contributions into the scheme on behalf of that employee.
Does it apply to me?
The AE legislation applies to every employer, irrespective of how many employees they have. For previously existing companies it applied from their "staging date" which was set by The Pensions Regulator's Office. For new companies (those set up from 1st October 2017 onwards) it applies from their duties start date which is the day the first employee starts work.
As said, it is the employer's responsibility to assess their employees to determine whether or not they meet the criteria requiring them to be automatically enrolled into a suitable scheme. Eligibility is determined by the age and pay rate of the employee.
Why should I bother?
First and foremost, the provision of a workplace pension for your employees is obviously of benefit to them and will help you to attract more, better, staff.
Also, from a more selfish perspective, The Pensions Regulator can impose significant penalties on employers who do not carry out their legal obligations under the AE legislation. These start off as fixed fines but continued non-compliance can lead to the imposition of significant and escalating penalties with the amount increasing in line with employee numbers. In addition The Regulator can make employers pay any and all outstanding contributions due.
How can we help?
We offer a comprehensive AE service from the provision of advice and information about your legal obligations and duties through to assessing your workforce, assisting in the choice of pension provider, if needed, sending out any and all statutory communications, setting up a suitable pension scheme and carrying out ongoing administration of the scheme and ongoing employee assessments. All of this is provided at extremely competitive fees and with unlimited ongoing support.
For help with Auto Enrolment contact us....
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