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Auto Enrolment

The pitfalls of auto enrolment

Since April 2012, all UK employers are legally obliged to automatically enroll all eligible workers into a qualifying pension scheme by a specific deadline ('staging date'). 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 the businesses in recent years and the financial penalties for breach can be severe.

You will have a duty to assess (and continually reassess) your workforce to be able to identify which of your employees will be eligible for auto-enrolment. For this purpose, workers have been arranged into three categories: Eligible Jobholder, Non-Eligible Jobholders and Entitled Workers. Whilst only Eligible Jobholders are required to be automatically enrolled, Non-Eligible Jobholders have a right to opt-in to an automatic enrolment pension scheme and Entitled Workers have a right to join any pension scheme. It is your responsibility as an employer to ensure that you communicate with each individual worker to ensure that they are aware of their rights.

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.

Once set up, you will be responsible for ensuring that both employee and employer contributions are paid into the scheme at the correct amount and that payroll accurately reflects these contributions.

Throughout each stage of the auto-enrolment cycle, you must create and maintain detailed records. These records must be available for review by the Pensions Regulator whenever requested.

Both your and your employees must be aware of the rights and duties and be ready to act on them to avoid breach of the rules and imposition of financial penalties.

The penalties can be very severe

There is a fixed penalty of £400 for non-compliance. That's bad.

But even worse are the daily penalties that range from £50 per day for a business with up to 4 employees (rising to £500 per day if you have just 5 employees) through to £10,000 per day where there are 500 or more employees. That's severe.

If you have not yet reached your staging date you need to make sure you know exactly when it is and allow at least three months to plan. We can help you get set up with auto enrolment and take away the pain and hassle.

And even if you are already auto enrolled you'll know the on-going work required and your obligations are significant. We can make life much easier for you with our auto enrolment solution. As part of our auto enrolment service we will review your position and advise to help ensure you are complying with this onerous legislation and minimise your exposure to penalties.

How much will it cost?

If you haven't yet reached your staging date or not yet auto enrolled, we can sort that out with our auto enrolment set up service.

And if you are set up to auto enroll we can support you by assessing your workforce every pay period, processing opt-outs and opt-ins, re-enrolling eligible workers, reporting to The Pensions Regulator, calculating your contributions for each pay period and much more.

Prices for both set up and on-going support are based on the number of employees and frequency of pay.

And we have three packages which means you can choose the option which best meets your needs. And if you choose, we can easily add on an option to deal with your auto enrolment.

Most clients also ask us to do their payroll too. If we carry out your payroll there are big discounts available. This is simply because if we are already doing your payroll some of the work will already be done.

What if you are a director-only company or exempt company

We also have an entry level service if you qualify for exemption.

Click Here to Request our Auto Enrolment Brochure or to book a FREE Webinar or Seminar to be held later this year.

Next Step:

Please contact us if you need further advice, have any questions about our services, would like a free consultation, to learn about Auto Enrolment, or to Book A Visit.

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