advice on auto enrolment for businessesThe law on workplace pensions has changed. Every employer with at least one member of staff now has new duties, including putting those who meet certain criteria into a workplace pension scheme and contributing towards it.

This is called automatic enrolment. It’s called this because it’s automatic for your staff – they don’t have to do anything to be enrolled into your pension scheme. But it’s not automatic for you. You need to take steps to make sure they’re enrolled.

Does the change in law affect me?

Yes, if you employ at least one member of staff, you’ll need to automatically enrol them into a pension scheme if they meet certain criteria.

When will the change in law affect me?

Each employer has a date by which they need to comply with the law. This is called your staging date. If you would like to know when yours is, please contact us.

What do I need to do and by when?

There are a number of tasks that will need to be completed by your staging date, including assessing your workforce to see who’s eligible, choosing a pension scheme, and communicating to staff.

What happens if I don’t comply?

The responsibility for complying with the employer duties rests with the employer. If you don’t comply, you’ll face enforcement action in line with The Pensions Regulator’s risk-based approach. Enforcement action starts with statutory notices and is followed by penalty notices. Further non compliance may result in court action.

The challenges of auto enrolment

With auto enrolment comes three main challenges to UK small to medium sized businesses:

Time

The additional tasks and responsibilities of auto-enrolment and managing a workplace pension will consume your time and see your resource stretched across yet more duties.

Time

The additional tasks and responsibilities of auto-enrolment and managing a workplace pension will consume your time and see your resource stretched across yet more duties.

Capability

Operating a workplace pension and the associated tasks of auto-enrolment will be new to many businesses, and will come with a steep learning curve.

Capability

Operating a workplace pension and the associated tasks of auto-enrolment will be new to many businesses, and will come with a steep learning curve.

Risk

These new tasks are not only time critical but also regulated. Getting them wrong could mean disruption to your business and employees

Risk

These new tasks are not only time critical but also regulated.

Getting them wrong could mean disruption to your business and employees, and bring with it the possibility of substantial fines from the regulator.

The solution for auto–enrolment

At The Orchard Practice we can help provide a managed auto enrolment solution to take care of your responsibilities and remove these challenges from your business.

If you would like further information about automatic enrolment, corporate pensions or would like to arrange a meeting please contact us or call 020 8953 8687