The Pension Regulator update and refresh their online auto enrolment guide
The Pensions Regulator (TPR) have updated and refreshed their online, interactive guide to auto enrolment to better serve small and micro businesses.
Over half of the businesses left to reach their staging date will have either one or two employees. This means that the industry needs to take a proactive approach at offering their help and services to these businesses to simplify the language around auto enrolment.
Naturally, businesses that have either one or two employees are least likely to have any experience with payroll and pensions, let alone a dedicated payroll manager to take care of auto enrolment.
The new guide on TPR's website explains:
The law on workplace pensions has changed. Under the Pensions Act 2008, every employer in the UK must put certain staff into a pension scheme and contribute towards it. This is called ‘automatic enrolment’.
Whether you’re a hairdresser, an architect or employ a personal care assistant, if you employ at least one person you are an employer and you have certain legal duties.
It specifically referencess hairdressers, architects and care assistants; a snippet of the types of businesses that are likely to be affected by auto enrolment. Keeping this in mind, it is extremely important that the payroll and pensions industry, adjusts the use of language around auto enrolment accordingly to help it easier for you to understand.
TPR are helping those small businesses that are unsure if they have auto enrolment duties by introducing a new "Duties Checker" at the beginning of their auto enrolment guide.
After going through this part of the guide, you are then asked to enter your PAYE reference number and your letter code to find out when your staging date is; the day that you have to begin complying with the workplace pensions legislation.
The easiest way to run your auto enrolment solution is within your payroll software. This is because all of the information needed to assess your employees is already there.
The IRIS AE Suite™ will tell you which of your employees need to be put into a pension scheme. It will then tell those employees that they are going to be enrolled by electronically sending them a letter. Their payslips and P60s are also sent electronically to a secure online portal that your employees just log in to.
Not only are you putting the right people, at the right time into a pension scheme; but you are also making your payroll easier to run. By making your communications, payslips and P60s, you are cutting out all of the time it takes to print, fold, sort, envelope and send - and all the costs that come with this week in, week out.
The best way for you to realise how much time and money the IRIS AE Suite™ can save you as well as keep you compliant with the legislation is by sitting a quick, free demonstration. Nothing to download, nothing to install and nothing to pay to view a 1-2-1 demonstration.