From October 2017, all employers have legal duties to enrol all eligible staff into a workplace pension, as soon as their employment commences, and to make contributions on their behalf. This is called ' automatic enrolment' as employees do not have to do anything to be enrolled. However, the process is far from automatic for employers.
To ensure compliance with the legislation, all eligible staff must be enrolled, by their employer, in a pension scheme by no later than their compulsory staging date. This date is set by the Pensions Regulator based on employer size and PAYE reference.
To find your staging date please click here.
Employers are required to complete a Declaration of Compliance to let the Pension Regulator know how they have met their legal duties for automatic enrolment. Failure to comply with these legal duties can lead to employers facing enforcement actions and penalty notices which can result in various fines. Some ranging from £50 to £10,000 per day depending on the number of staff; the fine will continue to grow daily until you comply.
The Lewis Work Place Pension Trust has been developed to guide employers through every stage of setting up a pension scheme and the ongoing duties. There are many concerns and problems in running a business and we are here to lessen the additional burdens created by auto enrolment. Contact us for a free no obligation chat - we are happy to invest our time in helping businesses find the right solution.