Does your pension scheme qualify for automatic enrolment?
One of the biggest obstacles for many businesses is identifying whether your current pension scheme or the one you’re thinking of choosing is actually eligible to use for auto enrolment. Companies mustn’t assume that a pension scheme is compliant.
Ensuring that your company or practice has a qualifying pension scheme is essential. The Pensions Regulator [TPR] has specific criteria that schemes have to match, so whilst your current pension scheme may qualify, you may have to carry out more checks against additional criteria to ensure that you can automatically enrol new members.
The changes brought about by auto enrolment are complex and far ranging. The pension landscape is unlikely to stay the same, especially as smaller businesses begin to stage with the expectation that it will become less commercially viable for many pension companies to stay in the market and the introduction of large joining fees.
The best way to gain a better understanding of how this legislation will change your business is by attending a training course.
IRIS run auto enrolment legislation courses to help familiarise businesses and employers with the changes. Whether you’re an accountant or bureau running payroll for a variety of companies, a payroll professional looking to familiarise yourself with the changes or even if you’re a small business owner where running payroll is just one of a number of your main duties this course is right for you.
If you’re an IRIS customer or using IRIS payroll, there is also payroll specific training to help you familiarise yourself with the complex changes, your key duties as an employer and how this can all be managed with your software.
Contact the IRIS team to find out more or to book your place on a course today.
0843 357 1806