The introduction of Workplace Pensions (via Auto-Enrolment) represents one of the most influential reforms to legislation affecting businesses for a generation.
Staging dates for smaller companies are on the horizon. Companies with less than 250 employees have been affected since 1st April 2014. Between 2014 and 2015, there will be on average over 3,000 companies per month having to comply with Auto Enrolment (known as staging), with heavy daily fines for missing staging dates from the Pensions Regulator. Between 2015 and 2017, over 1 million companies will be staging, which is a staggering 51,134 companies per month.
The legislation has brought with it new pension schemes from unfamiliar providers, new payroll software, requirements for files to be uploaded, downloaded, changed, uploaded again… There’s a host of jargon and new processes to get to grips with: earnings bases, declarations of compliance, ESPR numbers & Government Gateway IDs that might or might not be the same as the one used for HMRC.
Not to mention the requirement to become enough of an expert in pensions to be able to set scheme rules and choose a default fund.
Do not leave this until the last minute or think "it doesn't affect me".
Almost all employers are affected. The main exception is a company with only a single employee who is also a director. The range of employers affected therefore runs from multi-national companies to a family who employs a nanny.
We have developed a complete solution that can take the headache away from most of the decision-making and leave you with the time to run your business.
Auto Enrolment - The Complete Solution
Click on the image to register for our Complete Solution menu for Auto Enrolment