Auto Enrolment is all about pensions – compulsory workplace pensions. An Auto Enrolment Accountant can help you comply with the new workplace pension requirements. All employers must enrol all eligible staff into a qualifying pension scheme. Eligible staff and/or their employer must contribute to the pension scheme. Employers are being gradually phased into Auto Enrolment between 2012 and 2017, until every employer must comply by 2018. So you may need an Auto Enrolment Accountant very soon.
For more details an explanation on some of the terms used in this post, please see our post Auto Enrolment – What is it?
All employers will need to:
The new laws were introduced in 2012 and are being phased in over 7 years by staggering the ‘staging dates’ and gradually increasing the ‘minimum contributions’. An Auto Enrolment Accountant will help you work out the correct contributions.
Non-eligible employees and Entitled workers also have the right to opt in i.e. ask their employer to enrol them into an Auto Enrolment pension scheme. Depending on the employee age and income, employers also make contributions to this pension scheme, adding to the contributions made by the employee. An Auto Enrolment Accountant will help you handle the opt-ins.
As long as the minimum employer’s contribution and the minimum total contribution are both met, the mix and rates of contributions can be different to those stated below. For example, an employer may want to pay the full total minimum contribution (or more) so that the employee isn’t required to pay any. Or the employee may want to pay more than the minimum. An Auto Enrolment Accountant will help you comply with the minimum contributions.
Employers will need to prepare themselves for Auto Enrolment prior to their staging date, including communicating with staff. This can take anything between six months and a year. The staging date is based on the total number of employees in your PAYE scheme at April 2012. An Auto Enrolment Accountant will help you work out what your staging date is and therefore when you need to do everything.
For more details please see our post Auto Enrolment – What is it?
Our Auto Enrolment Accountants fixed fees start from just £10pcm plus VAT and is based on the number of employees and the pension provider used. See the Fixed fees section on the page linked below for details.
For more details on our Auto Enrolment Accountants service see here: Auto Enrolment Accountants Service.