Who does it affect?
All businesses employing at least one person in addition to the director in the UK will need to have a Qualifying Workplace Pension in place. The age and earnings of members of staff will determine what ‘type’ of worker they are and what duties you will be obligated to meet. For the tax year 2015/16 the staff that must be automatically enrolled are those who are:
- aged 22 to state pension age
- working in the UK
- earning over £10,000 a year.
Other staff still have rights under automatic enrolment and you will need to write to staff individually to inform them of their rights.
When will I need to have a scheme in place?
When you need to have a scheme in place depends on your ‘staging date’. This is the date set by The Pensions Regulator from your employee numbers in April 2012. The largest employers having been implementing schemes since October 2012 and other businesses are phased over the coming years.
To find out your company's staging date use The Pensions Regulator’s calculator and enter your PAYE reference.
How can Abco support my business?
Payroll is the function that will be most affected by the changes as it is within your payroll that the ongoing requirements of automatic enrolment need to be managed. Every time you pay your staff we will monitor their ages and earnings to ensure that any staff whose rights have changed are handled correctly.
We work closely with pension providers and IFAs and are able to work with you to set up your scheme in advance of your staging date, enabling you to relax while other companies struggle to meet their obligations. To find out more about how Abco can support you through the minefield of workplace pension obligations please contact us.
What Client's Say
As an employer, to say understanding Auto Enrolment has been a long and steep learning curve for us is not an exaggeration. Therefore I appreciate your company’s support through this transition. Taking time to discuss with us our options and help us work through the auto enrolment milestones, regulations and schemes available.
Auto Enrolment continues to bring in new challenges and I have the confidence and peace of mind that our scheme is being professional managed for our staff by Abco’s dedicated staff. I would highly recommend and have already recommended Abco Payroll to other employers in our industry reaching their Auto Enrolment staging date.