The law for workplace pensions has changed and since 1st April 2012 had been rolled out gradually to existing employers before the 30th September 2017. After the 1st October 2017, new employers will have an immediate duty from their first employee’s start date to comply, known as the ‘Duty Date’.
This means that any employer with one or more staff has duties to comply with that starts on their given staging date or duty date. Including automatically enrolling those who are ‘eligible’ into a workplace pension scheme and contributing towards it.
It is called ‘automatic enrolment‘ because it is automatic for staff – they don’t have to do anything to be enrolled into a pension scheme, but it is not automatic for employers!
We offer a complete payroll and pension management solution, working with most major pension providers. Pension services can include: –
- Jobholder Postponement/Deferrals
- Jobholder Assessments
- Process Opt-ins
- Pension Providers’ Data Transfers (via CSV & API)
- Jobholder Statutory Communications
- Calculate % Contributions
- Process Opt-outs & Refunds
- 3 yearly Re-enrolment
- Declaration of Compliance
For new employers
If you are a new employer taking on your first member of staff, it is best to be prepared as your duties will apply from your employee’s start date. At Biznus Payroll although we cannot provide financial advice on a pension scheme and in-depth due diligence on scheme suitability and durability. We can help employers set up a qualifying scheme with 5 main workplace pension services providers directly including NEST, The Peoples Pension, Smart Pensions, NOW Pensions and Super Trust, but it will be your responsibility as the employer to research and undertake due-diligence to which of these schemes are best suited for your business.
It’s important to understand as well that even if your employee does not meet the automatic enrolment criteria you will still have duties to complete and provide access to a qualifying pension scheme should they choose to opt-in. Also, that should your ‘eligible’ employee express a wish before being automatically enrolled into a qualifying pension that they do not want to be a member of the pension scheme, they MUST become an ‘active member’ (enrolled) first BEFORE they can choose to opt-out.
| Pre-Approved Pension Providers | Pension Scheme Set-Up | PensioSync Enabled |
|---|---|---|
| NEST (National Employment Savings Trust) | Yes | Yes |
| The Peoples Pension | Yes | Yes |
| Aviva | No | Yes |
| Smart Pensions | Yes | Yes |
| NOW: Pensions | Yes | Yes |
| Scottish Widows | No | No |
| Royal London | No | No |
| Legal & General | No | Yes |
| The Crystal Trust | Yes | No |
If you would like to find out more about our payroll and pension services or request a quotation then give us a call on 01373 228300 or email info@biznuspayroll.co.uk.
Useful External Links:
https://www.gov.uk/workplace-pensions-employers
Useful Internal Links: