Getting started with auto-enrolment

Getting started with auto-enrolment
Promoted by Getting started with auto-enrolment

If you’re tackling auto-enrolment in 2017 it’s worth carrying out as much research as you can before you start. With so many options in the market and potential fines from The Pensions Regulator (TPR) we recommend you start planning as early as possible.

 

Our 5 tips to get you started

1. Find out your staging date

Your staging date is the date your automatic enrolment duties come into effect. You must be prepared for this date. You'll need your PAYE Reference to find out your staging date.

 

2. You’ll need a 'qualifying pension scheme'

A qualifying scheme is one which meets the minimum criteria set out by TPR.

For a UK pension scheme to be qualifying it must:

  • Be an occupational or personal pension scheme
  • Be tax registered
  • Meet TPR’s minimum requirements

 

3. You must make pension contributions

By your staging date, you will have to put your qualifying employees into the qualifying pension scheme. From this date you’ll need to pay contributions into the pension scheme.

The table below shows the percentage you MUST pay for each eligible employee.

 

 

4. Communicating with your employees

You’ve set up your qualifying pension scheme, now you need to tell all your employees about what’s happening, why, and how much they’ll need to contribute.

Remember, everyone is different; some qualify and some don’t, so make sure you communicate the right message to the right people. Oh, and you must keep records for a minimum of six years.

 

5. Staying compliant

Auto-enrolment has brought around 30 new employer responsibilities and many of these have to be actioned each pay reference period (every time you pay your employees). As an employer, you are responsible for the delivery of auto-enrolment and if it goes wrong, you will be accountable for putting it right - including the cost of doing so.

Every pay reference period you must:

  • Assess your work force
  • Manage opt-ins and opt-outs
  • Manage contributions
  • Communicate with any new members
  • Keep an audit trail

 

Download our free auto-enrolment checklist of everything you need to do before, at and after your staging date

 

CLICK HERE TO DOWNLOAD


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