Calling all employers: Auto Enrollment

Have you seen the TV Advert “I’m In! I’m In!” regarding workplace pensions?

Many people still do not appreciate that AUTO ENROLMENT applies to ALL EMPLOYERS.

BIG or small, all employers will have to provide a pension scheme for their employees.

AE or Auto Enrolment is being supervised by the Pensions Regulator and every employer has a ‘staging date’. This is the date from which all eligible employees must be enrolled into a pension scheme of the employer’s choice.

There are compulsory contributions, generally made up of an employee and an employer portion, expressed as percentages of earnings.  These percentages will increase on 1st October 2017 and again on 1st October 2018.

There is a considerable amount of work involved in calculating, reporting and record keeping, particularly if there are a number of employees.

Payroll staff workloads can in some cases increase 100%. If you do your payroll in house can you double your payroll staff?  If payroll is outsourced, your provider may not be able to absorb the additional workload or even carry out some of the procedures!

‘Payman.co.uk Ltd,’ a Frome based payroll management company is providing for their clients, and other employers who may not have yet realised the implications, with an opportunity to attend a seminar explaining ‘Employers’ Responsibilities and Duties’; what Payman can do on the employers’ behalf; and ‘question and answer’ sessions with representatives of pension scheme providers.

The first Seminar will take place on Tuesday 10th November at 2.00pm in the Bennet Centre, Vicarage Street, Frome (next to the Vicarage Street car park).  If you have a question or questions about AE, and/or to register your interest or book a place, call 01373 453454 or e-mail ae@payman. co.uk