What are your Auto Enrolment responsibilities as an employer?
- Know your staging date
Staging date is based on the PAYE data provided to The Pensions Regulator (TPR) by HMRC on 1st April 2012 – employers will then be contacted by TPR 12-18 months before their staging date and then again 3 months before their staging date.
- Define your automatic enrolment plan
How will your company prepare? Leading industry experts advise beginning this process 12 months before your staging date.
- Choose how your automatic enrolment process will be managed
What type of solution will you choose? Manual? Middleware? Payroll or HR system compatible?
- Assess your workforce for eligibility
You will need to do this every pay period after you’ve staged.
- Review your current pension arrangements
Does your current pension qualify? Don’t assume it does.
- Communicate the changes to all your workers
Earnie Auto Enrolment suite can help you communicate these changes smoothly to your workforce with emails and letters.
- Automatically enrol your eligible jobholders
Employees must be automatically enrolled on a scheme when they fit the eligible criteria. This must be assessed and reassessed every pay period for eligibility changes in your workforce.
- Register with The Pensions Regulator and maintain records
Records must be maintained for 6 years.
- Contribute to your workers’ pensions
The minimum contributions are being phased in from 2% from October 2012 growing to 8% from October 2018.
If you would like to talk to Farmplan about Auto Enrolment solutions for your business please complete the form on the link below and a member of the team will be in touch shortly.Request a demo