Staging dates; opt-in and opt-out employees; ongoing eligibility assessment; pension provider interfacing; contribution calculations and payment; compliance declarations; management reporting... you could be forgiven for struggling to get to grips with automatic enrolment – or auto enrolment for short – pensions.
But government-introduced workplace pension provision is mandatory for all employers. There's no avoiding it. If you employ at least one person, you have a legal duty to set up pension schemes for your employees and contribute towards it.
Failure to comply results in enforcement action in the form of statutory notices, penalty notices and, worst case scenario, court action. In fact, the charges you could face for not living up to your duties range from a £400 fixed penalty notice to £50,000 civil penalty.
Auto enrolment is complicated and time intensive. If you lack the skills and time yourself, why not outsource your entire payroll and pension functions to our expert team of CIPP-accredited clerks? We provide support for varied industry types, including companies just like yours.
With our end-to-end, complete, personal payroll and pension service, your designated clerk will manage not only all the usual payroll tasks such as processing your salaries, he / she will also look after pension contributions in accordance with auto enrolment legislation including:-
As an employer, sign up for pension support and benefit from our experience, guidance and resources in order to simplify your approach to pension provision. In other words, let us do the hard work for you.
For you, it's one less worry and one less distraction, leaving you free to get back to the important task of running your business. Plus, instead of spending your evenings and weekends sorting out your payroll and pensions, which is the usual way of things for small-to-medium sized businesses, enjoy some much-needed leisure and family time.
Request further information on our pension management services at your earliest convenience.