Over the coming months you will be receiving a letter from The Pensions Regulator informing you that the law on workplace pensions has changed.
This letter will notify you when the law comes into effect for you, your ‘Staging Date’.
To avoid the potential heavy fines (£500 per day if you have between 5 & 49 employees) there are certain tasks you need to be aware of and complete within specific timescales:
- Set up a qualifying workplace pension scheme
- Check who you need to enrol
- Work out your costs
- Check your record and payroll processes
- Tell The Pensions Regulator how you have complied
There are also regular ongoing tasks that need to be carried out at certain times.
You may have already taken action to comply with your employer duties, however if you have not you may be interested to know what we are doing to help our clients.
I have partnered with Elliott Financial Services to provide a straightforward, efficient and cost effective solution for small businesses that need to take action with regard to the new automatic enrolment employer duties but don’t want to pay unnecessary high consultancy fees in order to comply.
For more information please contact me directly.