What is Pension Auto Enrolment?
Workplace pension law is changing. You'll have new legal duties to help your workers save for retirement. The responsibility for complying will rest with you, the employer.
Auto Enrolment is a key part of the Workplace Pension Reform, it means you'll need to automatically enrol certain members of your workforce into a pension scheme, and you'll need to make a contribution towards it. The law is being phased in from now until 2018 so check your staging date.
What will I need to do?
As an employer, you'll have new duties and legal responsibilities to help eligible members of your workforce save for retirement.
It’s a good idea to familiarise yourself with Auto Enrolment now to understand the impact on your business and how you can prepare for it.
Even if you already offer pension arrangements for your workers, you may not have a qualifying scheme in place and you'll still have some new obligations to meet too.
As an employer, you'll be required to:
Assess the eligibility of your workforce
Review your current pension arrangements
Communicate information to your employees
Facilitate opting out requests and refunds
Keep accurate & up-to-date records
These responsibilities may cost you time, money and added strain on your resources, but don’t worry we’re here to help!
Call us on: 028 7964 4975