What lessons can you learn from The Pensions Regulator's latest bulletin?
The Pensions Regulator (TPR) has published its latest quarterly bulletin, highlighting some of the lessons small and micro businesses can learn from larger companies who have already staged for auto enrolment.
Key points in the bulletin include:
- 119 non-compliance, 50 unpaid contribution and 68 fixed penalty notices were issued between April and June
- 20% of businesses due to stage between June and November have not yet started to prepare which leaves them at risk of non-compliance
- The Pensions Regulator expects to see a rise in the number of notices issued as 1.8 million employers are yet to reach their staging date
Executive director of automatic enrolment Charles Counsell says
“My message to small and micro employers is to ensure you leave enough time and be clear about what you need to do to comply. We publish lessons learned to help employers avoid common pitfalls and the information is all on our website. We are here to help – but will take action if an employer is wilfully non compliant”.
This latest bulletin again highlights the importance of preparing early for auto enrolment and understanding exactly what employer duties will be. You can learn more about auto enrolment by visiting the dedicated IRIS web page.
One of the key pitfalls highlighted concerns employers with seasonal and temporary staff and industries affected will include recruitment businesses, construction firms, shop owners and caterers. Assessing and postponing all workers correctly, however temporary they are, is vitally important to ensure auto enrolment compliance and employers will need to consider zero hours contract workers as part of their duties.
Fortunately, having the right software in place can make assessing and postponing staff a straightforward process, for example the IRIS AE Suite™ will automatically assess temporary and contract workers every pay period. Sandra Crawford from Silverstone Circuits explains:
“We use a lot of zero hours staff so some months they may not be earning anything and then for the next 3 or 4 months they would be assessed as over the limit. Every time I run the payroll it re-assesses employees. I get notifications every time and the information is all there.”
Read more in the IRIS guide, 7 automatic enrolment tips from companies that have already staged.
IRIS has assessed over 500,00 employees for auto enrolment and offers a range of training seminars. To speak to the IRIS team about auto enrolment call 0344 815 5700.