Are you one of the 200,000 employers who are now auto-enrolment compliant?
27 September, 2016
Around 200,000 UK employers have now completed their auto-enrolment duties, The Pensions Regulator (TPR) has revealed.
In a new Declaration of Compliance report, the TPR revealed that approximately 6.5 million workers across the UK are now fully enrolled onto a workplace pension scheme, 960,000 of whom work for ‘small and micro employers’.
Under revisions to rules for workplace pensions introduced earlier this year, auto-enrolment has been made a mandatory requirement for all employers.
Businesses must ensure they are fully compliant before their staging date. Staging dates vary between businesses, but can be found using each individual business’s PAYE reference number.
The Government expects businesses to have enrolled all of their employees who earn £10,000 a year or more onto an auto-enrolment scheme before or by this date.
Ideally, you should start planning at least 12 months before your staging date. If you are at all unsure of the process involved, please contact a Watson Buckle Director. We offer a wide range of auto-enrolment and payroll services to ensure your business is compliant, tax efficient and free from any potential complications or charges.