As Workplace Pensions and Auto-enrolment specialists, our objective is to offer an holistic service to Small to Medium size Enterprises (SME’s). Our aim is to ensure that SME’s are able to fulfill their new “Employer Duties” efficiently and with the minimum fuss. We will work with you to develop a solution which meets the needs of you and your employees. This will ensure that you are ready to act on your Staging Date.
Compliance with your new Employer Duties is a Ten Step Process:
- Determine your Staging Date
- Nominate a Point of Contact
- Create an action plan
- Assess your workforce
- Confirm the of your Pension Scheme design
- Select a suitable Provider.
- Confirm your Default Investment Strategy
- Tell your employees what is happening.
- Automatically-enrol your Eligible jobholders.
- Pay contributions
Once you have set up your Workplace Pension Scheme you will the have a number of further actions to take.
- Complete your Declaration of Compliance for The Pensions Regulator.
- Refund contributions to employees who Opt-out
- Collect contributions from employees who Opt-in
Thereafter you must continue to comply with your Employer Duties
- Maintain Records
- Continue to assess your workforce every pay reference period
- Re-enroll any Opt-outs every 3 years
- Comply with any future changes to the legislation