Are you ready for pensions automatic enrolment? Want to find out more?
Why not come along to our pensions auto enrolment workshops?
Thursday 11 February 2016
at The Auctioneer, Rosehill, Carlisle
Times: 8 am or 11 am or 4 pm
Breakfast, lunch or tea are included as appropriate
There is likely to be a high demand for this workshop so email: email@example.com today for further information and to book a place.
What is pensions auto enrolment?
Most employers probably realise by now that where they employ at least one member of staff they need to set up a workplace pension scheme and automatically enrol their eligible employees.
You may already have received notification of your staging date which will be some time from now up to 1 April 2017 for businesses in existence prior to 1 April 2012. New businesses will have later dates between 1 May 2017 and 1 February 2018. However if you haven’t checked this you should do so immediately as you need to start planning approximately 12 months before.
Remember that there are up to ½ million employers who will all be looking to implement new pension schemes in this year and 1.8 m in the next 2 years. Demand for experienced advisers will be high, therefore the more prepared you are and the sooner you consider your options the smoother the implementation will be.
Once you know your staging date the following need to be considered:
- The costs to your business and how you are going to fund these.
- Whether your existing payroll software will be able to deal with auto enrolment.
- Create an online auto enrolment account and prepare information for your employees.
- Choose software and check records.
- Choose a pension scheme.
- How you will deal with the ongoing record keeping to ensure you comply with all the regulations including opt-outs and opt-ins.
The Pensions Regulator can issue penalty notices for non compliance. They have already investigated 3800 cases since commencement of auto enrolment. Although they are meant to be taking a light touch approach there have been several businesses fined for non compliance.
Why not come along to our pensions auto enrolment workshops where we will guide you through your duties and responsibilities.