Here are all the important key messages for this month for employers tasked with automatic enrolment duties.
Automatic enrolment: Make sure you tell your staff how automatic enrolment applies to them.
As part of your automatic enrolment duties, you will need to write to your staff to tell them how automatic enrolment applies to each of them as individuals. Timing is important. You have a legal duty to write to your staff within six weeks of your staging date. The Pensions Regulator has letter templates in a number of different languages to help with this.
Does your current payroll solution meet your automatic enrolment needs?
Payroll software will help you with automatic enrolment. It will help you to set up the contributions that you’ll need to pay into your chosen pension scheme and will also send data to your pension provider on a regular basis. It will also help you to enrol staff as they become eligible.
It’s important you make sure your current software meets your needs. If it doesn’t, you’ll need to make other alternative arrangements. For more information, visit The Pensions Regulator’s website.
Automatic enrolment: Do you know what information is needed to complete the Declaration of Compliance?
Make sure you know when your declaration of compliance deadline is and the information you will need to complete it. If your declaration is not submitted on time, then you risk a fine. TPR has a checklist and an essential guide which will help you with your declaration
Re-enrolment: Do you know when this will impact you?
Employers must complete their re-enrolment duties within a six-month window which is three months either side of the third anniversary of their staging date. The Pensions Regulator will be contacting over 20,000 employers about their re-enrolment in March 2017
Make sure you know when your re-enrolment window is.