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Pensions Auto-Enrolment

Employers Duties – where have you reached with the new pension auto-enrolment requirements?

Two months on from the introduction of automatic pension enrolment how are businesses dealing with the new Employers Duties?

The 1 October 2012 start date affected just four of the UK's largest employers; by June 2013, all employers with more than 4,000 employees will be subject to the new duties.

   Conducting Appraisals

ALL employers must comply with the requirement to auto-enrol eligible jobholders into a pension to which both the employee and employer contribute. Small employers are not exempt but they do have a later starting (staging) date.  There are penalties for not complying and for inducing employees to opt-out of the requirements.

Recent surveys suggest that the majority of small businesses have not yet started to plan or budget for automatic enrolment. However, time is ticking on and those who leave it to the last minute may find the pension providers are unable to take them on in time.  All companies should start to think about the issues NOW even if their "staging date" is not for a couple of years.

Take our quick seven question survey to see how prepared you are by clicking here?

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We can help you hire and retain the best employees, manage your employees more successfully, and improve employee motivation. Whatever your HR outsourcing needs, In2HR can assist any company within the Thames Valley areas, including Berkshire, Buckinghamshire, Oxon and Surrey. So why not contact us today.

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