Pensions – Auto Enrolment

legal updates

If you haven’t yet sourced a pension plan then we would strongly advise you start looking for one.

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As we enter 2016, many small employers will be aware that their time to commence pensions auto enrolment is nearly here. Most small businesses will have to be compliant from April or August 2016, and as such you should already be in the process of setting up your scheme.

Most employers will have had to by now, register their details with the Pension Regulator website and began to complete their online declaration. This is in essence to tell the pension regulator whom your chosen pension provider will be and how many staff will be enrolling with you.

If you haven’t yet sourced a pension plan then we would strongly advise you start looking for one sooner rather than later, especially if your enrolment date is April 2016. You will also need to look at your current payroll software to check that it will be able to cope with the reporting obligations employers will have to comply with once auto enrolment is in play. April will come round sooner than you think so its best to be prepared sooner rather than later.

If you have already sourced your pension provider then you might want to start considering sending information out to your staff in the near future so that they have time to make a fully informed decision before April 2016.

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Related Legal Updates

The Pension Regulator spot checks

The Pension Regulator is especially interested in compliance with the employer’s automatic enrolment obligations.

Pensions – Are you planning ahead?

It is key to plan ahead and start thinking about what your company will need to do to be ready for auto enrolment.

Pensions – Again!

Employers are warned if they encourage employees to opt out of the new auto enrolment pension plans they will face a penalties.

Pensions Auto Enrolment Update

The implementation timetable for Pensions Auto Enrolment has changed again.

Pension reform; Are you ready for 2012?

It is planned that implementation will be phased over a possible 4 years but some larger employers will face changes from 2012.

Workplace Pension Reforms

From 1 October 2012 the largest companies will be required to enrol into a pension qualifying scheme.

New Pension Scheme will put up employers costs

Employees who will be entered in the scheme are those who earn more than £5035 (subject to statutory increases) and who are 22 or above but under State Pension Age.

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