Summer milestones for pensions auto-enrolment
Christine Scott gives an update on the latest tips from The Pensions Regulator on auto-enrolment.
The Pensions Regulator is warning business advisors that there is no summer break for employers' from their auto-enrolment duties.
The Pensions Regulator has found that while levels of awareness and understanding of automatic enrolment remain high and most employers think it is a 'good idea' – more than 20% of those whose duties come into effect between June and November this year have yet to draw up their plans.
First wave of staging dates for small and micro-employers
The first wave of small and micro employers saw their duties start in June 2015.
Employers reaching their staging date in June should now be well underway with implementing their plans. If they have not started, they should act now.
Around 1.3 million small and micro employers will reach their staging date over the next two years. The majority of these employers will be seeking help from a business adviser.
Do you have all the information you need? Read the business adviser's online guide to automatic enrolment, which shows how you can help your clients with their automatic enrolment duties.
Have your clients received a letter from The Pensions Regulator?
By the end of the summer, The Pensions Regulator will have written to every employer in the UK to tell them the date at which they need to be ready to enrol their eligible staff into a workplace pension. The letter also asks employers to nominate primary and secondary contacts, in order that regular and useful information from the regulator can be received in the run up to the date at which your duties begin.
- Primary contact: This is the most senior person at the employer who is legally responsible for ensuring compliance with the automatic enrolment duties. In a small business, this is likely to be the business owner.
- Secondary contact: This is the person responsible for the practical implementation of automatic enrolment on behalf of the employer. This may be an accountant, bookkeeper, or other business adviser.
Do you know what your clients need to communicate to their staff?
Within six weeks of the date that automatic enrolment duties begin (staging date), employers are required to tell their staff how automatic enrolment applies to them as individuals.
Your clients may ask if you are able to help them with this task. Do you know what needs to be done and what support is available?