Payroll issues for employers - Auto Enrolment
5th December 2017
Tina Davies - Payroll Manager
Most employers have now reached their staging date for auto-enrolment and should be complying with their workplace pension duties. These include:
- Setting up a workplace pension scheme.
- Identifying staff who qualify for auto-enrolment.
- Enrolling eligible job holders in the workplace pension scheme.
- Deducting employee contributions from their pay.
- Paying employee and employer contributions to the pension provider.
In order to be in a position to meet your obligations under auto-enrolment, your staff records must be accurate and up to date.
Your payroll software must also be equipped to adequately manage the employer’s duties under auto-enrolment including assessing every period.
In addition, you need to ensure your payroll system works with your chosen pension provider and allows for an easy transfer of data.
You should check your systems are in place for paying your contributions into the pension scheme by the due date, such as by the 22nd day of the month after deduction where payments are made electronically or by 19th day where payments are made by cheque.
It is important you keep and maintain records of auto-enrolment activity, including details of the employees enrolled in the pension scheme, details of their contributions, as well as details of optouts and leavers.
Don’t overlook your duties under auto-enrolment as the penalties charged for non-compliance can be very high.
“New companies should prepare for auto enrolment as from October 2017 they must comply with the legal duties. These duties apply from the first day the first employee starts work. This is known as their duties start date” added Tina Davies.
Bevan & Buckland run a series of free auto enrolment seminars throughout the year. The seminars take place every month at Bevan & Buckland’s Swansea office. Please visit our website for upcoming seminars click here.
For more information on how Bevan & Buckland can help with your auto enrolment. Please contact Tina Davies on 01792 410117 or via email email@example.com