Starting from April 2014, companies with less than 250 employees will need a workplace pension scheme that meets qualifying standards set out by the government.
Starting from April 2014, companies with less than 250 employees will need a workplace pension scheme that meets qualifying standards set out by the government.
Starting from April 2014, companies with less than 250 employees will need a workplace pension scheme that meets qualifying standards set out by the government.
Starting from April 2014, companies with less than 250 employees will need a workplace pension scheme that meets qualifying standards set out by the government.
C H E C K L I S T Starting from April 2014, companies with less than 250 employees will need a workplace pension scheme that meets qualifying standards set out by the government. The Pensions Regulator can fine any organisation that doesnt comply with its duties on time. You may already be preparing for auto-enrolment, or you may not have started yet. Whatever stage youre at, careful planning and design is critical as its probably more complex and will take longer than you think. Ideally you should start at least 6 months before your staging date (your staging date is the date that youll need to start complying with your new duties). The benefits of starting early include: Cost control by knowing the costs you can plan your budget Risk management the risks of errors and fines are reduced Time to make any necessary changes to payroll and processes Engagement planning early means you have more time to involve your people Peace of mind preparing early means one less thing to worry about The quicker you get going, the more time youll have to deliver the best solution for your business. Dont worry, youre not alone. Alongside any financial advice you may get, we can support you through the journey. Remember, the earlier you start, the smoother the process will be. 2 1 3 4 5 Section 6 GEN2064 0214 2014 Standard Life images reproduced under licence Standard Life Assurance Limited is registered in Scotland (SC286833) at Standard Life House, 30 Lothian Road, Edinburgh EH1 2DH. Standard Life Assurance Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Calls may be monitored and/or recorded to protect both you and us and help with our training. Call charges will vary. www.standardlife.co.uk Plan
At least 6 months before staging date Get your staging date pensionregulator.gov.uk Appoint the person to manage auto-enrolment in your business Get a plan in place for your key activities Understand all the costs involved, including administration and pension contributions Engage with your payroll provider (use our payroll guide for help) Know your staffs eligibility, assess their age and wages Find and engage with your preferred pension provider Deliver
At least 3 months before staging date Access your workforce for eligibility Have your payroll processes in place Decide if you are using waiting periods (added automatically as part of our solution) Use your pension providers support Manage
At least 1 month before staging date and ongoing Prepare the workforce payroll data required for assessment and communicating with employees Issue mandatory communications (can be automated through our solution) Within 5 months of staging register with the Pensions Regulator Prepare your Department of Work and Pensions contribution certificate, if required Manage any opt outs and ongoing assessment, monthly payment and employer duties Whats next - get a free personalised report Weve worked hard to make things easy. So with a few key details you can get a free personalised report online that filters through what auto-enrolment means for your business.
