If you employed staff for the first time after 1 October 2017, your legal duties for automatic enrolment (AE) begin on the day your first member of staff starts work. You should start preparing early for this to work out what you’ll need to do.
On the date your duties start you must assess your staff to see if they meet the age and earnings criteria to be enrolled into a pension scheme for automatic enrolment.
Any staff who are aged between 22 up to State Pension Age and earn over £10,000 per year, or £833 per month or, £192 per week must be enrolled into a qualifying pension scheme. What you need to do will depend on whether you have anyone who needs to be put into a pension scheme or not.
Here at EnrolPay we offer a cost effective and user friendly solution to lessen the administration burden now placed on employers. Our AE pensions module handles all areas of operating an AE pension which include:
- Assessment of your workforce each pay period.
- Enrolment of employees who meet the enrolment criteria.
- Calculating both employer and employee contributions based on an employee's earnings
- Managing the opt out process for employees.
- Full reporting to satisfy audits.
- Re-Enrolment assessment every three years after staging date.
Please feel free to contact us to discuss how we can help with the process and make it a seamless transition for both employer and employee.