Auto-enrolment means that every worker(based on certain criteria - salary and age) in UK has to be automatically enrolled into a qualifying pension scheme without any active decision on their part.
Who is affected by Auto-enrolment?
Almost every employer in UK is being affected by Auto-enrolment.
When does Auto-enrolment become effective?
Starting October 2012, auto-enrolment starts for largest employers in UK. Then gradually over a period of two to three years other employers are affected. The date when this new duty starts is known as the staging date. The staging date will be based on the number of persons in the PAYE scheme of the employer. Staging date timeline is found at the following url:
Want to know more about Auto-enrolment and how does it affect you?
There are a range of guides made available by The Pension Regulator at the following link http://www.thepensionsregulator.gov.uk/employers/7-steps.aspx
What are the range of Auto-enrolment duties?
There are a range of new duties introduced by auto-enrolment including assessing the workforce, communicating with the employees, communicating with the pension regulator, communicating with the pension providers, record keeping and managing opt out and opt in requests etc.
How do I manage these range of Auto-enrolment duties?
You can manage these duties either in-house using products like Nexus or outsource these duties to third party administrator like IFAs or payroll bureaus.
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