Over half a million employers are now set up for auto-enrolment, however twice as many have yet to meet their duties.
In the first 3 months of 2017 over 136,000 small and Micro employers complied with their responsibilities, this amounts to one every 57 seconds. Over 600,000 employers have compliance responsibilities this year.
Employers who are employing staff for the first time after 1st October 2017 will have auto-enrolment duties from the first day their member of staff starts work.
On the date that the employers duties start they must assess their employees to see if they meet the age and earnings criteria to be put into a pension scheme for automatic enrolment. Any employees that are aged 22 up to state pension age and earn over £10,000 a year, £833 per month or £192 a week must be put into a pension scheme.
If you’re still not sure or don’t feel comfortable RollPay provide a simple pension service, branded as your business (your clients think you’re doing it!) we can organize postponement, pension setup and ongoing AE obligations including assessment, calculation, letters, and pension data sync.
Contact us today for an informal chat on 0800 1310131 or email sales@rollpay.co.uk
