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Licensed and regulated by the Institute of Certified Bookkeepers (ICB)
Practice Licence Number: 17284
AUTO ENROLMENTS AND HOW THEY WORK
Under The Pensions Act, 008 employers are now legally required to provide a reliable workplace pension to all their employees. It is, therefore, the employer’s responsibility to make sure that they are compliant with auto-enrollment. All employers are required to have a pension scheme put in place on the staging date and we at Purely Payroll based in East Yorkshire can offer professional assistance in this matter throughout the whole of Yorkshire, including Hull and the East Riding.
It is allowed for the auto enrolment to be postponed for 3 months but employers are to understand that they are only postponing their duties towards the employees and not actually postponing the staging date. Any noncompliance could result in incurring a fixed penalty notice of £400. Is your business prepared for auto enrolment? If not, you can begin the required preparations now. Our expert services will help you create an action plan that will enable you to forecast your costs.
We offer a full range of auto enrolment services including:
- Setting up pension schemes on behalf of the employer
- Handling all opt ins, opt outs and refunds
- Initial assessment of employees at the staging date
- Reviewing the ongoing assessments of both employees and new starters
- Managing all postponements
- Completing your declaration of compliance
- Providing a complete administration service
- Generating a pension file that is uploaded to the relevant pension provider
Remember that all eligible employees can choose to opt into the selected pension scheme even during the postponement period. It then becomes the employer’s duty to have a scheme in place that accepts all such cases. To effectively manage auto enrolment, you will need specific software, excellent administration and technical knowledge. Let us help you with managing payroll for all your employees. Contact us today for reliable assistance.