Your short guide to Auto Enrolment
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Transcript of Your short guide to Auto Enrolment
Your short guide to Auto Enrolment…
Know your
staging date
This depends on the size of your business…
250+ Employees 50-249 Employees 1-49 Employees New Business
Oct 2012 – Feb 2014
April 2014 – April 2015
June 2015 – April 2017
May 2017 – Feb 2018
You can find your exact staging date on the Pensions Regulator website, www.thepensionsregulator.gov.uk
Assess your
employees
You will need to split your employees into:
Eligible Jobholders • Aged 22 to State Pension age • Earning from
£10,000
Non-eligible Jobholders • Age 16 to 22 or
State Pension age to 75
• Earning between £5,772 - £10,000
Entitled Workers • Aged 16 – 75 • Earning up to
£5,772
You must continually assess your employees every pay period…
Provide a qualifying Pension Scheme
Your scheme must automatically enrol eligible jobholders…
• Ensure any employee can join
• Allow jobholders to opt out
• Provide minimum contributions
And your scheme must:
Inform your
workforce
You must inform your employees in writing about Auto Enrolment
• How Auto Enrolment affects them
• How they can opt-out
• How they can opt-in
Including:
Enrol eligible jobholders
You need to provide employee details to your Pension Provider and ensure they are active members of your scheme
• Name • Gender • Date of birth • Auto Enrolment date • Home address • NI number
• Postal work address • Work email address • Personal email address (if known) • Qualifying earnings • Both employee and employer contributions
Maintain records
You’ll need to register with the Pensions Regulator and maintain records for at least 6 years
Contribute to your workers’ pensions
The total minimum contribution starts at 2%
2% contribution 5% contribution 8% contribution
Oct 2012 – Sept 2017
Oct 2017 – Sept 2018
Oct 2018 onwards
Auto Enrolment can be complex.
But there’s an easier way…
103 man days to prepare
33 new employer
tasks Average set up cost of
£8,900 for <100 ee’s
…5 easy clicks to Auto Enrolment
Visit us
moorepay.co.uk