Auto Enrolment

In the past, many workers missed out on valuable pension benefits, because their employer didn’t offer them a pension, or they didn’t apply to join their business’ pension scheme.

Automatic enrolment changes this. It makes it compulsory for employers to automatically enrol their eligible workers into a pension scheme. The employer must also pay money into the scheme.

Automatic enrolment is happening now and there are penalties in place if you do not comply. If you need assistance, please get in touch!

Here’s some things about Auto Enrolment:

When Is It Happening?

It has already started for a lot of employers. It will affect ALL employers by 2018. Please ensure you know your Staging Date, as this will be unique to your business. To find out your Staging Date, please refer to The Pension Regulator link below.

Who Does This Affect?

All employers, large or small who have workers.

Minimum Contributions

The auto enrolment minimum is initially 2% of which at least 1% must be paid by the employer. Over time this increases to a total of 8% of which at least 3% must be paid by the employer. These contributions are set on earnings over £112 per week up to an upper limit of £827 per week.

When Are The Contributions Made?

You need to pay your contributions to your worker pension scheme on time. This includes calculating and deducting contributions from your worker's salaries. You must agree the due dates for paying contributions to the scheme with your trustee or provider.

What If I Do Nothing?

There are certain legal duties you must meet for automatic enrolment. If you don’t comply with your duties, then The Pension Regulator may take enforcement action.

For further information and latest from The Pension Regulator, please click here.

Fixed Fees – Agreed in Advance

We offer fixed fees throughout our relationship, so absolutely no surprise bills and no need to hesitate contacting us!

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