It’s now a legal requirement to supply an auto enrolment ready pension scheme if you’re an employer – find out more about what auto enrolment is here
You can find out how to get your business ready for auto enrolment here – but it’s important to remember that running an auto enrolment-compliant workplace pension scheme is an ongoing task. The work doesn’t stop once you’ve set up the pension scheme, as there are a number of other regular things you need to keep a check on.
Once you’ve set up your workplace pension scheme and enrolled your employees, your auto-enrolment duties don’t stop there. The Pensions Regulator (tPR) suggests you make auto enrolment part of your monthly payroll process by:
- Paying regular contributions into the pension
- Monitoring the age and earnings of employees, and new employees joining
- Process any opt-in, joiners or opt-out requests
- Keep and maintain accurate records
- Re-enrol any previous opt-outs every three years
If you need help running your payroll and meeting these auto enrolment requirements, give us a call on 01454 300 999, or drop an email to info@fd-works.co.uk
Find out more about the FD Works’ approach to finance at fd-works.co.uk