What is auto enrolment?
Starting in October 2012, regulations will require every employer, regardless of size, not only to enrol the vast majority of their workforce into a workplace pension scheme but also to make contributions on their behalf.
Each company is required to assess its workforce and, if appropriate, enrol workers into a workplace pension.
What is the deadline?
To ensure they are fully compliant with the legislation, employers must enrol all of their eligible employees in a pension scheme by no later than their compulsory staging date. This date is set by the Pensions Regulator based on employer size and PAYE reference.
You can find your staging date here.
Failing to comply with new regulations can lead to employers facing informal actions, statutory notices, and finally penalty notices ranging from £50 to £10,000 per day depending on the number of staff.
Carey Corporate Pensions can provide an end to end solution for any company to comply with Auto-Enrolment.
Our one-stop Auto-Enrolment portal enables you to run your processes online making it simpler and more efficient. It provides both the pension scheme and on-going employee assessment and walks you through both step-by-step.