Do you know where to start?
The introduction of “auto enrolment” is one of the most significant changes to workplace pensions for many years with the smallest businesses now being affected. Employers can confirm their “duties date” (the date by which they must be compliant) by clicking through to The Pension Regulator’s website.
For many employers, aside from the financial implications, dealing with all the other issues associated with auto enrolment is going to be a major drain on their time. This will involve liaising with payroll providers and HR departments, reviewing employment contracts and communicating with staff. Early planning is therefore essential but the key is in knowing where to start and exactly what is required to achieve compliance on time.
We can help you understand all the challenges of auto enrolment and to start planning accordingly. These include:
- Understanding exactly what auto enrolment really means – it’s not just choosing a pension scheme
- Practical implications of auto enrolmentAssessment and categorisation of the workforce
- Financial issues
- Consideration of existing pension arrangements
- Solutions to assist with compliance
- Formulating a practical “auto enrolment plan”
- Deciding on an effective implementation solution – including selecting a suitable pension scheme
Formulating your auto enrolment plan will be the first step towards compliance; the next will be making sure it is implemented on time. We can help you to understand the full effects of auto enrolment and to plan accordingly; we can also assist with the implementation of your auto enrolment solution and help you manage things going forward.
Please visit our case study to see how we helped a local company comply with their auto enrolment requirements. If you would like to talk us about how we can help you prepare for your auto enrolment, please contact Peter or Nick.
t. 01483 508580