Are you an employer who has to provide a pension? May 2, 2018Views: 848
If you’re an employer and have employed staff before the 1st October 2017 then you should have enrolled them into a pension scheme from their employment start date. Your staging date is the date that the auto enrolment law applies to you.
If you’re employing staff for the first time from 1st October 2017 it’s important to understand what to do and when, so you can meet your automatic enrolment duties on time.Your legal duties begin on the day your first member of staff starts work.This is known as your duties start date. Even if you think you won’t need to put staff into a scheme, you’ll still have duties.
After you choose your pension scheme and worked out which staff must be put in, you’ll need to pay your pension scheme every time you run your payroll. You need to monitor your staff’s circumstances incase their age or earnings have changed which may cause them to be an eligible employee where they would need to be enrolled.
What you need to do and when
Confirm who to contact
Inform The Pensions Regulator who they should send letters and emails containing help and guidance to.
You should do this straight away.
Choose a pension scheme
Ensure that you have a pension scheme that can be used for automatic enrolment.
Start this now, as it could take some time.
Work out who to put into a pension scheme
Work out who you need to put into a pension scheme on your staging date.
Do this on your staging date or duties start date.
Write to your staff
Write to each member of staff individually to tell them how automatic enrolment applies to them.
Do this within 6 weeks of your staging date or duties start date.
Declare your compliance
Inform The Pensions Regulator how you’ve met your legal duties by completing your declaration of compliance.
Do this within 5 months of your staging date.
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Written by Holly McHugh | BrightPay Payroll Software
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