Auto enrolment

Auto enrolment is complex legislation which is designed to encourage workers to provide for their own retirement, via their employment.

Every employer must communicate with their workers, even if none qualify for automatic enrolment. Employers must also provide a pension scheme if workers make a request, even though the employer may not be required to contribute.

In reality, depending on the number of workers you have, the legislation creates a significant administrative burden, potential financial penalties and a new wave of information to be stored, checked and reported!

If you employ workers who earn varying amounts on a weekly or monthly basis and the amounts are close to the national insurance threshold, then you will have to assess them in every pay period until auto enrolled.

As with any legislation, there are new terms, definitions and complex rules which need to be adhered to..

If you would like more comprehensive advice or one of our auto enrolment planning reports, providing you with a detailed plan, checklists and letter templates to send to each of your workers then please contact us.

 

 

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Jackie Waterston

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Ryecroft Glenton, founded 1901, is an independent, award-winning firm of Chartered Accountants and strategic business advisers giving personalised support to every one of our clients.

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