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Is your business ready for automatic enrolment?

Pensions law has changed and employers across the country are now helping more of their workers save towards retirement. If you haven’t had to yet, soon all employers will need to automatically enrol certain workers into a pension scheme and contribute to it.

Planning in advance will help to reduce the burden on your business. To help give you a head start, the Pensions Regulator has published an auto enrolment guide to help you ensure you’re doing the right things at the right time. We've also produced a handy auto enrolment checklist summarising the points below, that you can print out and put up in your office to remind what you need to do and when.

What businesses need to be doing NOW

Know your staging date

The date when new laws are switched on for your company is called your ‘staging date’ and is based on the number of people that were in your PAYE scheme in October 2012. You can find your exact staging date here.

Nominate a contact

The Pensions Regulator will be sending updates and information direct to employers as they prepare for auto enrolment. Make sure these are going to the right person by nominating a contact for all your communications here.

Start to plan

Assess your workforce, how many of them will be included by auto enrolment and how much is it going to cost your business in pension contributions? Budgeting for this now could save you a lot of stress later on.

Forum members can get a free consultation with a pensions adviser, including a tailored report on possible costs.

Stay up to date

As well as keeping updated via the Forum’s newsletter, you can sign up to the Regulator’s news by email service to receive updates, as well as notifications of webinars and new resources.

DOWNLOAD A FREE PENSIONS CHECKLIST

For more information on pensions auto enrolment, call us on 0845 130 1722.

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