Automatic enrolment round-up for advisers – July 2016
July round-up for advisers on pensions auto-enrolment from ICAS.
Automatic enrolment: You can't ignore it.
Make sure your clients know how automatic enrolment affects them and what their compliance deadlines are. They should take 5 minutes to complete The Pensions Regulator's (TPR’s) online Duties Checker to find out what they need to do, and by when.
Automatic enrolment: Do you know when to use postponement?
An employer can postpone automatic enrolment for up to three months. Employers may find this useful where they have new, temporary or short term staff (such as seasonal workers), or if they are aligning automatic enrolment with their other business processes.
TPR has information on when postponement would be useful and what action needs to be taken.
Automatic enrolment: Make sure you know your client's declaration of compliance deadline.
It is important that your client completes and submits a declaration of compliance so that TPR knows what actions they have taken to meet their automatic enrolment duties. This needs to be done within 5 months of your client's staging date. If you are acting on their behalf, then make sure you agree who is completing the declaration. Don't forget, or your client risks a fine. For more information and to complete the declaration, click here.
Automatic enrolment: How many of your clients have 6 months to go until their staging dates?
In July, TPR will be writing to over 95,000 small and micro employers with staging dates of 1 January 2017 to tell them they have 6 months to go - with the key message that they need to find a pension scheme. To find out more about how you can help your clients to meet their duties, go to TPR's online guide for business advisers.