Auto-enrolment is ‘one of the biggest reforms to UK pensions in decades,’ according to the National Association of Pension Funds. But unlike most changes in pension rules that affect only pensioners, these rules affect all UK employers.
In 2012, the Government introduced a mandatory requirement for employers to enrol their employees into a qualifying pension scheme without employees having to take any action. Briefly this means unless your employees decide to opt out of the scheme, all employers will be required to make contributions into a pension scheme on behalf of their employee.
This mandatory requirement is being staged over a 6 year period, therefore the first thing that all employers need to do is establish their staging date. By this date your pension scheme must be up and running and auto-enrolment compliant with tough penalties being issued by the regulatory for non compliance.
You can find your Auto enrolment staging date by entering your PAYE reference number onto the Pensions Regulators website, follow this link
At HSC we have formed a strategic partnership with UK Auto Enrolment under the banner HSC Auto Enrolment. Our team will be able to assist you in negotiating your obligations as an employer and setting up an Auto enrolment compliant pension scheme, ensuring each of the steps detailed in Auto enrolment process below is met.
If you would like to arrange a free consultation with Nick Gorton please contact him or request we contact you using the box below.