Workplace Pensions and the associated automatic enrolment dates are law for all companies in the UK and are here to stay. The problem is that the whole process can be time consuming and more than a little daunting, especially if you run a small business and don’t have a dedicated department to deal with such matters.
Given that there are fines for non-compliance and that lack of time or ignorance are rarely accepted as reasons for non-compliance, now might be the time to have a chat with us. We’re payroll experts, but we also offer a quick, efficient, reliable and cost effective workplace pensions service, guaranteed to make sure you get it all done correctly and on time.
How can we help with Workplace Pensions?
All companies need to put a plan in place, and we can help, from finding out your incorporation date and dealing with your automatic enrolment which is required at least 4 months prior to commencement. We keep all of our clients up to date with the implementation date. In addition, given that workplace pensions means changes to payrolls, our payroll system generates all the reports for companies to balance off the figures to be paid over each month for employees and employers.
We will build a programme for the entire process, including recommending a Pension Provider.
The Pensions Regulator recommends that every employer should factor in a ‘run-in’ period of 12 to 18 months before their scheme implementation date. This may seem excessive but experience tells us that whilst 18 months is good practice, periods of less than 12 months can easily become problematic. And there is a lot to do, as the list below shows:
- Know your staging date
- Develop an initial plan
- Know your Work Force
- Check your software can cope with the necessary processes
- Review pension arrangements
- Communicate to staff
- From your staging date onwards
- Enrolling eligible jobholders
- Keep records
- Ongoing responsibilities
Contact us for help with Workplace Pensions
We have helped many small businesses with their workplace pensions commitments, from setting it all up to on-going management. We can even put you in touch with pension providers.
If you’re looking for help with Workplace Pensions, contact us or call us on 0121 422 0550 for help and advice.