Summary
Description
Automatic enrolment is a government initiative regulated by The Pensions Regulator (TPR). It exists to help people save for their retirement through a pension scheme at work.
In the UK, employers must enrol certain staff into a workplace pension scheme. The employer must also contribute towards it.
Resolution
When will automatic enrolment affect me?
Automatic enrolment law is already in force for all employers and new businesses have to act on the new legislation straight away.
If you are a new business, you can find out how to set up Auto Enrolment by visiting The Pensions Regulator (TPR).
Read how to record if your company is exempt from Auto Enrolment.
Does Payroll support automatic enrolment?
You can prepare for automatic enrolment in Payroll.
This includes:
- Assessing your workforce
- Communicating the upcoming changes with The Pensions Regulator
- Nominating a pensions contact with The Pensions Regulator
You can also set up a qualifying pension scheme to ensure you:
- Meet the automatic enrolment requirements
- Enter or postpone your staging date
- Assess your employees for automatic enrolment
Does my current workplace pension scheme qualify for automatic enrolment?
If you don’t already have a workplace pension scheme, you’ll need a scheme that meets TPR’s qualifying criteria. TPR has lots of useful information to help you find a provider and choose a pension scheme.
If you already have a pension scheme, it needs to be suitable for automatic enrolment. Check with your pension provider.