TPR's auto enrolment guide for business advisers
In response to feedback given by advisers such as IFAs and accountants, The Pensions Regulator (TPR) have created an easy-to-use guide with 12 steps to helping small business clients comply with their auto enrolment duties.
The guide itself is divided into 12 steps so that advisers can work with businesses through the steps one by one, or choose which part of the process that they most need the help with.
Each step shows which tasks need to be completed at certain points leading up to, and after a client’s staging date. This transparency means that it is easier for businesses to understand just how much time is needed to meet their auto enrolment responsibilities.
The plan starts 12 months before staging and encourages advisers to check their clients staging date as a first port of call.
In addition to this, there is further advice about being a point of contact on behalf of clients, checking who to enrol into a qualifying pension scheme and also helping clients to create an action plan. There is also help on calculating the costs of auto enrolment for your client.
The next step is 6 months before their staging date. This part includes information about checking records and payroll processes as well as advice on choosing a pension scheme and what advice clients may ask for.
There is also information as to what businesses are expected to do on their staging date. This includes information on assessing and enrolling staff, writing to client’s staff on their behalf and also understanding client’s ongoing duties.
Finally is information about what to do after your staging date. This is crucial because TPR state that the main reason for fines being administered to businesses for lack of compliance was due to the incorrect submission of the Declaration of Compliance. So, the final part is information on how to do this correctly and there is also further details on re-enrolment, three years prior to their first staging date.
Find out more about how to avoid fines and continue to be compliant with auto enrolment communications with our free guide: