Here are the key auto-enrolment messages for May 2017, even if you employ one person.
Thinking of employing someone for the first time? Don’t ignore the workplace pension.
Whether you have recently become a new employer, or are thinking of employing someone in the future, make sure you know what you need to do to meet your automatic enrolment duties, and by when. You risk a fine if you do not comply with the law on time.
The Pensions Regulator has guidance and support to help you find out exactly what you’ll need to do and when.
Are you setting up a new business as a director only, or single director business?
All employers have automatic enrolment duties, so it’s important that you know how the law will apply to your business. If you run a director-only business, then you may be exempt. However, it’s important that you find out how the law applies to you so that you don’t risk a fine.
The Pensions Regulator has guidance and information on how automatic enrolment applies to you.
Have you recently employed someone for the first time and looking for a pension scheme to automatically enrol them in?
Choosing a pension scheme for automatic enrolment doesn’t need to be daunting, or expensive. The Pensions Regulator has online guidance on what to consider when choosing a scheme.
Find out in good time what you need to do to meet your automatic enrolment duties, by when, and what costs you may need to factor in.
Automatic enrolment and small employers – have you declared your compliance?
All employers will have automatic enrolment duties. Even if you employ just one person for a few hours a week, you’ll need to assess them to see if they need to be put into a workplace pension, enrol them into a pension scheme if they meet the criteria, and tell them how automatic enrolment applies to them.
You also have to complete and submit a Declaration of Compliance to tell The Pensions Regulator how you have met your duties. This is important as you risk a fine if you do not declare your compliance on time.
The Pensions Regulator has a Declaration of Compliance checklist, which tells you exactly what information you’ll need to complete your declaration.