Auto Enrolment Pensions
What does Auto Enrolment mean for your business?
You must set up a company pension scheme for your employees, and you have to pay into it.
It is run as part of Payroll and needs to be done at least once a month.
It is a hidden tax of 3% which you must contribute so include this in your recruitment costs.
Employees have to pay a minimum of 5% of their salary, and you have to COntribute a minimum of 3%.
Our Payroll department can sort this out for you effortlessly.
How employees are added is based on their earnings and age.
If your Employee earns over £10,000 between 22 and state pension age, they are automatically enrolled, and you must contribute to their pension.
If they earn £5,824 but less than the £10,000, they have not enrolled automatically, but they can choose to “Opt-In”, and you will also have to contribute to the pension.
If your employee earns less than £5,824, they can Opt-in, and it's up to you whether you contribute as well to their pension.
Employees can opt out if they wish but automatically enrol every three years.
Lots of providers offer Auto Enrolment pensions.
We recommend sure NEST, our prefered Partner.
We are happy to discuss which provider would be the best for you.
The Pension Regulator will regulate your pension.
More Auto Enrolment information
Pension Regulator Duties, what you need to do - Duties Checker.
This will give you your staging date; when your pension must start, you will need your Letter code; it will come from the Pension Regulator.
We can set up your pension from £149.00.
We can migrate your payroll over to us to ensure they are sink. Our payroll software works with all the leading pension providers, and the monthly payroll run start at £25.00 per month.