{"id":41,"date":"2014-11-18T12:43:02","date_gmt":"2014-11-18T12:43:02","guid":{"rendered":"http:\/\/mk-bookkeeping.co.uk\/?page_id=41"},"modified":"2020-10-09T13:49:46","modified_gmt":"2020-10-09T13:49:46","slug":"auto-enrolment-steps","status":"publish","type":"page","link":"https:\/\/mk-bookkeeping.co.uk\/?page_id=41","title":{"rendered":"Auto Enrolment"},"content":{"rendered":"

All UK employers (regardless of size) must enrol their workforce into a workplace pension scheme.<\/strong><\/span><\/h3>\n

The Pension Act 2008 introduced new law\u00a0to encourage greater private savings.<\/p>\n

Anyone running a payroll of any size, from 1 worker upwards, is included within this reform and MUST COMPLY, this includes nannies, carers and domestic staff.<\/strong><\/p>\n

Eligible jobholders must be automatically enrolled onto a qualifying pension scheme.\u00a0 Non-eligible jobholders and entitled workers must be allowed to contribute to it if they want to \u00a0(scroll down for workers categories).<\/p>\n

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\nYou must make sure your understand your responsibilities and start preparing now.<\/strong><\/span><\/p>\n

There are specific steps that The Pensions Regulator requires employers to complete:<\/span><\/strong><\/h3>\n
    \n
  1. Know your staging date<\/li>\n
  2. Assess your workforce<\/li>\n
  3. Review your pension arrangements<\/li>\n
  4. Communicate the changes to all your workers<\/li>\n
  5. Automatically enrol your \u2018eligible jobholders\u2019<\/li>\n
  6. Register with the Pensions Regulator and keep records<\/li>\n
  7. Contribute to your workers\u2019 pensions<\/li>\n
  8. Complete the TPR Declaration of Compliance<\/li>\n
  9. Ongoing monitoring<\/li>\n<\/ol>\n

    1. Staging Date<\/strong><\/span><\/h3>\n

    Employers will be introduced gradually until 2018\u00a0and have been\u00a0allocated a staging date, this is the date that a qualifying pension scheme must be in place.<\/p>\n

    To find out when your staging date is click here.<\/a><\/p>\n

    2. Assess Your Workforce<\/span><\/strong><\/h3>\n

    There a 3\u00a0categories of\u00a0worker and you must assess which one\u00a0each of your workers falls into, then act accordingly for each worker. \u00a0<\/span><\/p>\n\n\n\n\n\n\n
    Category<\/strong><\/td>\nWho Are They<\/strong><\/td>\nAction<\/strong><\/td>\nWho must contribute<\/strong><\/td>\n<\/tr>\n
    Eligible job holders<\/td>\nAged 22 to State Pension AgeWork in UKEarn above \u00a310,000\/yr\u00a3833\/mth, \u00a3192\/wk<\/em><\/td>\nAutomatically enrolled on a qualifying pension scheme<\/td>\nWorker and Employee<\/td>\n<\/tr>\n
    Non-eligible jobholders<\/td>\nAged 16 to 74Work in UKEarn between \u00a35832 and \u00a310,000\/yr\u00a3486 to \u00a3833\/mth, <\/em>\u00a3112 to \u00a3192\/wk<\/em><\/td>\nMay \u2018opt in\u2019 to a qualifying pension scheme<\/td>\nWorker and Employee<\/td>\n<\/tr>\n
    Entitled Workers<\/td>\nAged 16-74Work in UKEarn \u00a35,832\/yr or less\u00a3486\/mth, \u00a3112\/wk<\/em><\/td>\nMay join any pension scheme (see notes below)<\/td>\nWorker<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

    <\/h3>\n

    3. Review pension arrangements<\/span><\/strong><\/h3>\n


    \nYou will need to choose the most appropriate scheme to meet the needs of your company and workers, you can contact pensions providers directly or speak to an Independent Financial Advisor to discuss the most suitable qualifying pension plan for your business.<\/span><\/span><\/p>\n

    A list of Financial Advisors in your area can be found at www.unbiased.co.uk<\/a> or www.vouchedfor.co.uk<\/a>.\u00a0 Your Accountant may also be able to offer guidance.<\/p>\n

    Although we are prohibited from giving financial advice or recommending pension schemes we can inform you of and help you set up schemes with True Potential Investor or NEST (National Employment Savings Trust) or\u00a0The Peoples Pension (TPP).<\/p>\n

    True Potential Investor Fees <\/strong><\/p>\n