Pension and Auto Enrollment
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Our auto-enrolment service
- Complete Auto Enrolment Service, from planning to implementation and maintenance.
- Reduce your admin time with our fully compliant automatic enrolment solution!
- End-to-end implementation
- Complete compliance management
- Supporting employer responsibilities
- Dedicated client accountant
What is Auto-Enrolment who does it apply to?
The government had become concerned that the UK’s workforce was not putting enough away for their retirement. As a result, in 2012, the automatic pension enrolment scheme was put in place, making it mandatory for employers to put all eligible workers into a workplace pension plan.
All businesses in the United Kingdom now have to set up employees pensions who meet specific requirements, including contributions from employers and employees. To be eligible:
- Be aged at least 22
- Be below state pension age
- Earn more than £10,000 a year in 2020/21
- Work in the UK.
Paying into workplace pension plans is a shared responsibility, not just yours and your employees’. In addition, the government provides tax relief.
You must comply with the Act if you own a business that employs one or more workers. You will need to:
- Set up a workplace pension scheme that meets the new rules
- Automatically enrol all eligible workers
- Pay contributions into the retirement pots (pensions) of eligible workers
- Enrol other workers if they ask to join the scheme
If you have started your pension staging duties we can offer you a complete auto-enrolment solution. We can assist you with the successful implementation and ongoing business compliance and put you in touch with recommended financial adviser partners.
How to determine auto-enrolment eligibility criteria
Eligible jobholders must be members of a qualifying scheme or auto-enrolled into an auto-enrolment scheme.
Non-eligible jobholders should be offered the opportunity of opting into the scheme.
Entitled workers must be given access to a pension scheme.
Once we have helped identify your eligible employees or entitled employees, we will oversee the following:
- Collect key information from employees
- Determine your Payroll and HR Process
- Review Employee contract for any legal issues
- Identify and select key points of contacts
We will also work with you to ensure you understand your responsibilities, both as an employer and your employees to maximise retirement income.