Archive 16.7.13

Auto enrolment. What every employer should know

Archived Post
Archived Post
Archive 16.07.2013

A major change is coming for any business in the UK. The UK Government has introduced new pensions legislation, which makes it compulsory for employers to implement a ‘qualifying’ employee pension scheme, and for employers and employees to contribute to it. For most businesses, this change will have a significant impact on costs, systems and the administration burden. Key facts for employers

  1. Your start date depends on the number of employees you had in your PAYE scheme on 1 April 2012, but the dates fall between Oct 12 and Sept 17.
  2. You must use a qualifying scheme
  3. You must contribute 3% of qualifying earnings
  4. Not all employees are eligible
  5. You must register with The Pensions Regulator (TPR) and enrol eligible employees
  6. There are steep penalties for non compliance

Further information