Millions more to be automatically enrolled into workplace pensions
A new government campaign will help make smaller companies aware of their duties to automatically enrol workers into a pension scheme, the Department for Work and Pensions (DWP) has said.
More than 47,000 large and medium-sized employers have already completed the process of automatically enrolling their employees. The focus has now shifted to the 1.3 million small and micro firms that will be obliged to offer their staff a workplace pension between now and 2018.
Auto-enrolment applies to employees aged between 22 and state pension age who are paid over £192 gross a week (£833 a month).
It is essential for business owners with fewer than 30 staff to check when their auto-enrolment staging date. The dates are available from the Pensions Regulator online and you’ll need your PAYE reference – https://www.thepensionsregulator.gov.uk/employers/staging-date.aspx
You cannot postpone your staging date. Even if your staging date seems to be some way away, you’ll need to prepare your staff records and make sure that the information you hold is correct – date of birth, national insurance number and contact details, for example.
We are on hand to help with any queries you may have about auto-enrolment obligations so don’t hesitate to get in touch if you need assistance.
Auto-enrolment is rolling for small and micro-employers. Are you ready? Call Figurit today to discuss:
020 7376 9333