Auto Enrollment needn’t be a headache
So what is Auto Enrollment you ask?……
Auto Enrollment is new legislation that the Government have introduced in order to get more people saving for their future into pensions.
How does this affect me? I only have one employee…
Essentially this means that employers across the country have to automatically enroll certain employees into a pension scheme and make contributions on their behalf.
So what are my responsibilites?……
There are 33 new duties or responsibilities that employers should be aware of, REMEMBER these duties are not optional, they are constantly ongoing on a weekly, or monthly basis (depends on your payroll).
Choosing and setting up the initial scheme is the easy part of the process. REMEMBER you the employer are now responsible for the ongoing maintenance/record keeping and reporting to the regulator.
This involves accurately communicating between PAYROLL, WORKERS, PENSION PROVIDER &; THE REGULATOR.
What do I need to do and when do I need to do it?……
This Government legislation has been in force for over 12 months and each individual employer has a different staging date (implementation timescale), you need to be aware of yours and give yourself enough time to prepare and put procedures in place.
I think I can just ignore this and it will go away like so many other Government ideas……
Not a hope in hell! If you FAIL in your duties or miss your staging date you will face substantial FINES or even IMPRISONMENT.
So how can I solve this problem?……
Thankfully due to my 20+ years in the financial services industry I have found a trusted partner who can find the solutions for any size of business, whether you are simply employing one person or have hundreds on your payroll – so no matter what Auto Enrollment needn’t be your headache anymore.
For more information complete this form for a free informal chat over coffee.
Bradex Business Solutions | Business Mentor | Coach | NED 
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