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Haines Watts Leicester Phone icon 0116 276 2761

It has been well documented that Auto-enrolment is legally binding and applies to all companies – even Director-only companies. Non-compliance can result in huge penalties or even criminal prosecutions, not to mention the reputational damage which could affect your business.

There have been a few cases in recent years where businesses have been caught out by the regulations and we are encouraging businesses to make sure they comply.

However, employers’ obligations can be time-consuming and complicated to implement, taking at least 6-9 months planning before the agreed staging date.

Ask yourself the following questions:

  • Do you know your pension staging date?
  • Do you have a pension provision in place already?
  • Have you set an opt-out date?
  • Do you want to enrol any employees before the staging date?
  • Do you need help assessing your workforce?
  • Do you want to use the existing scheme or set up a new scheme?
  • Have you considered salary sacrifice?
  • What is your pension reform strategy?

Having one provider for payroll and a separate one for pensions can cause delays. The benefits of using a payroll provider for both payroll and auto-enrolment can assist in a number of ways including:

  • Selecting an appropriate pension scheme relevant to clients’ needs.
  • Customised set-up of the pension scheme
  • Assessment of employees’ eligibility against defined criteria
  • Providing relevant communications at each stage of the employees’ enrolment journey
  • Completing Declaration of Compliance in-line with legislation defined by the Pension Regulator
  • The calculation and uploading of pension contributions into the scheme.
  • Monitoring the opt-ins and opt-outs
  • Re-enrolment every 3 years.

If you need help with implementing your pension scheme to comply with auto-enrolment regulations or have any questions surrounding pensions or payroll, speak to our team on 0116 276 2761 or email payroll.leicester@hwca.com.

Want to know more? Call us on 0116 276 2761 or email leicester@hwca.com

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