Pension Auto Enrolment Services in Peterborough

If you employ staff, you may have duties under workplace pension legislation. Your responsibilities depend on factors including your employees' age, earnings and employment status.

Employers are responsible for assessing their workforce, enrolling eligible employees into a qualifying workplace pension scheme and completing the required declarations with The Pensions Regulator.

For new employers, Auto Enrolment duties generally begin when the first member of staff starts working for the business.

Employers must assess their employees, set up an appropriate pension scheme where required and complete a Declaration of Compliance with The Pensions Regulator within the applicable deadline.

Auto Enrolment is not simply a one-off task. Employers also have ongoing responsibilities, including monitoring employee eligibility, processing pension contributions and completing re-enrolment duties when required.

Not every employee will necessarily need to be automatically enrolled. Eligibility depends on current statutory requirements, including the employee's age and qualifying earnings.

As thresholds and pension regulations can change, each employee should be assessed according to the current rules.

Both employers and employees may be required to contribute towards the workplace pension scheme. Minimum contribution requirements are determined by current UK pension legislation.

Sound Accounts can help you understand the requirements that apply to your business and incorporate pension contributions into your payroll processes.

Failing to meet your workplace pension responsibilities can result in enforcement action and financial penalties from The Pensions Regulator.

Keeping accurate records, completing the Declaration of Compliance on time and maintaining your ongoing Auto Enrolment responsibilities can help your business remain compliant.