According to the Pensions Acts 2008, employers in the UK must put eligible staff into a workplace pension scheme and contribute towards it. This is called automatic enrollment. Regardless of what you do at what level, the day anyone starts working for you, you are an employer. From this date, the automatic duties begin.
- What are my duties related to Automatic enrollment?
From the day one you are an employer, your duties begin. But the duties you need to carry out depending on your particular situation. It needs to be assessed whether you need to contribute to a pension scheme or whether you don’t have to contribute it. How it works!!
Check if any of the employees works for your meets followings criteria:
- Aged between 22 and up to state pension age
- And earn more than £833 months(£192 per week)
If the criteria are met, you have to provide a pension scheme.
But remember you still have other duties :
- Write your staff
It is part of your legal duties to write all your staff individually to explain how automatic enrollment applies to them. You must do this within six weeks after your duties start.
- Declare your compliance
You have a deadline to declare five months after your duties start.
In the declaration, you tell the regulator how you have met your other duties.