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News - 21 February 2015

Auto enrolment date reminder

All small and micro businesses are to receive letters from The Pensions Regulator in the coming months as part of a new campaign to give them key information on automatic enrolment, including when the duties affect them.

The Pensions Regulator is the regulator of work-based pension schemes in the UK.

Research carried out by the Regulator suggests that significant numbers of small firms are still unaware of their staging dates, which is the date by which they must be ready to implement automatic enrolment.

The letters will also ask employers to provide their e-mail address to the Regulator, so that updates and reminders can be sent out as staging dates grow closer. Employers will also receive a letter from the Regulator 12 months before their staging date.

Executive director of automatic enrolment Charles Counsell said:
“Automatic enrolment affects every employer in the UK and they need to take timely action to get ready. The roll out of automatic enrolment has so far been a success and this letter will ensure that by the summer all small and micros are clear about when their duties begin, enabling them to plan ahead.”

More than five million workers have already been automatically enrolled by their employers. Research carried out by The Pensions Regulator indicates that workplace pensions are becoming the norm, with the majority of small and micro employers indicating that they believe it to be a ‘good idea’.

Liz Kennett, Manager of the Accounts Department of ABDS comments:
“Writing to tell small and micros employers due to stage over the next three years exactly when they need to act aims to assist timely planning and reduce the number of employers leaving things to the last minute and risking non-compliance.”

Eventually up to 1.3 million employers will have automatically enrolled up to 10 million eligible workers into a workplace pension scheme.

Further details can be found on The Pensions Regulator web site

If you need any help and advice with your PAYE, RTI or CIS, or looking to outsource your Payroll Department, contact ABDS NOW to discuss how we can help.

ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900  E-mail: abds@netaccountants.net

Brilliant with numbers   
Great with people  
Clear and precise with advice
Timely and cost effective 
In touch with issues that face our clients and
mindful of their long term strategic goals

Helping Your Business is Our Business

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