Workplace Pensions – we’re all in!! Are you?
[et_pb_section][et_pb_row][et_pb_column type=”4_4″][et_pb_text admin_label=”Text” background_layout=”light” text_orientation=”left” use_border_color=”off” border_color=”#ffffff” border_style=”solid”]
Workplace Pensions – we’re all in!! Are you? Auto-enrolment for workplace pensions has been talked about since its introduction in 2012. (If you’re a Consensus HR client, we have already discussed it.) Now the staging date for smaller employers is here!
This new system will affect all businesses eventually – regardless of headcount or financial turnover.
Auto–enrolment is a compulsory government scheme. It ensures that every UK employee is given the opportunity to participate in a pension scheme if they:
- Are aged between 22 and State Pension age
- Earn more than £10,000 a year
- Work in the UK
In fact, the scheme started in October 2012.
There has been a great deal of national publicity involving celebrities such as Theo Paphitis from Dragons’ den. Remember the question: ‘Are you in?’
Many employers have waited until the last minutes to participate. This is usually due to lack of funds or lack of knowledge and understanding of the new scheme.
But – everybody needs to understand that the time for smaller companies to get involved is approaching fast. The staging dates for companies with fewer than 50 employees runs between 1 June 2015 and 1 April 2017.
Companies should also note that ‘The Pensions Regulator’ has wide-ranging enforcement options including issuing stiff penalty notices.
To avoid auto-enrolment stage fright – and the associated penalties – Consensus HR is working with our clients and Pension Associates. Matthew from Consensus HR says: “Together, we’ll ensure that clients are ready for the introduction of Pension Auto-enrolment into their business.”
“We’ve been actively encouraging employers to be ahead of the game and hold an initial meeting with a pension advisor. This ensures that all financial, operational & HR implications can be remedied prior to your businesses staging date.”
Is your business ready for auto-enrolment? Find out more by talking to Matthew at Consensus HR via [email protected] or call 01462 621 423.
[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]
