Since April 2012, all UK employers are legally obliged to automatically enrol all eligible workers into a qualifying pension scheme by a specific deadline. Where this applies you must by law create and maintain detailed records of correspondence with workers, workforce assessments, joiners and leavers and pension payments. This is one of the most onerous challenges to face businesses in recent years and the financial penalties for breach can be severe.
It is also necessary for you to set up a qualifying pension scheme. This involves working with an independent financial adviser to review any existing pension arrangements or to design a new scheme that will suit the automatic enrolment criteria.
We can make life much easier for you with our automatic enrolment solution. As part of our automatic enrolment service we will review your position and advise you, to help ensure you are complying with this onerous legislation and minimise your exposure to penalties.
Will will calculate when your automatic enrolment obligations start so you avoid the severe penalties for not being ready
The initial assessment of your workforce will identify if you have any employees who will need to automatically enrol.
It’s important to establish a contact person for the Pensions Regulator. It can be someone in your office or we can do this for you.
We will work with you and your workforce to raise awareness about how automatic enrolment will affect them.
On your staging date, or on the last day of the postponement period, we will formally assess the ages and earnings of each employee.
We will complete your Declaration of Compliance. This is an incredibly admin-heavy task but we’re happy to take this off your hands.
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