What is Auto Enrolment?
There are lots of websites popping up for Auto Enrolment consultants, we’re different!! We don’t just advise you we actually implement into your clients Auto Enrolment for you.
Auto-Enrolment is a Government initiative which came into effect in October 2012 which compels employers to enrol eligible workers into a pension scheme and make contributions on their behalf. There are a number of different ways employers can meet their obligations, but even if you employ just one person you MUST take action. Fines will be issued for non-compliance starting at £400 but could rise to £10,000 per day depending on the number of staff employed.
Every employer must automatically enrol workers into a workplace pension scheme who:
- who is aged between 16 and 74
- who works in the UK
- for whom you deduct income tax and National Insurance contributions from their wages.
This will mean that your payroll will become more cumbersome to prepare for your clients. Your Payroll Department has a payroll product that has built in Auto Enrolment software to your payroll, so the Auto Enrolment isn’t a time consuming exercise every month due to the necessary checks you need to perform each month.
We advise that you start to prepare for your clients for Auto Enrolment at least 10 months before their staging date, so they are fully prepared at least 3 months before staging, as software needs to be “locked in” at least a month before your Auto Enrolment commencing in order to get the correct data.
If your clients are unsure of their staging date and you know their PAYE Reference number you can find out on the Pension Regulators Staging Date Calculator or if you would like us to help you do this please ask for Kelly on 01229 490490 or email her on firstname.lastname@example.org
At Your Payroll Department we offer a menu of services to accountants, HR Consultants and VA’s, ranging from an assessment of your clients workforce all the way through to implementation of a bespoke pension scheme. We can arrange staff presentations, pension clinics and support from an experienced Independent Financial Adviser.
If you would like to see more detail on our product levels and prices (including details of our offer) please feel free to download our price guide to the right. This price guide is only meant as a guide and if you would prefer a more bespoke service we are happy to quote for the parts of the Auto Enrolment you would like us to process.
|Do it Yourself||Holding your Hand||Done for you Service|
|Research Expert - Research best Pension Provider for your company||x||√||√|
|Set Up - Set up scheme with Pension Provider||x||√||√|
|Pension Regulator - fill out the Pensions Regulator Form Online||√||√||√|
|Initial Assessment perform initial employee assessment to show eligibility||x||√||√|
|Face-to-Face Meetings - meetings with Company and employees to discuss pension providers and investment fund options.||x||x||√|
|Initial Liaise - Liaise with employees to discuss initial arrangement via phone/email||x||√||√|
|Monthly Assessment - Monthly Pension Assessment of employees||√||√||√|
|Correspond with employees - continual correspondence with employees regarding eligibility, make employees aware when they become eligible due to pay increases and bonuses etc||x||√||√|
|New Starts - enrolling new starts with Pension Provider||x||√||√|
|Queries - dealing with any employee queries||x||x |
This can be added for and additional £50 per month for support via phone/email/Facebook
|Collecting Opt Ins/Outs - collecting information regarding opt ours etc from Pension Provider||x||√||√|
|Processing Opt ins/Outs - Process of opt in or out and any postponements that are required into payroll software||√||√||√|
|Upload Data - uploading pension data to Pension provider||x|
Report provided from payroll software for you to upload
|Renewing Pension Provider - discussions to reassess Pension Provider when it is time to renew||x||√||√|