The challenge facing more than a million businesses
Under automatic enrolment rules, existing companies will have been given a deadline (known as the ‘staging date’) by The Pension Regulator, and you must have a suitable pension scheme in place and automatically enrol eligible workers by that date. Failure to do so could lead to fines. However, the duties apply immediately to any companies set up after 1st October 2017 or paying employees for the first time after this date.
The Regulator recommends getting started 12 months before your ‘staging date’ – although, with good planning, this can be reduced considerably. The challenge lies in getting the processes in place to set up and administer your scheme, while adhering to the strict rules laid down by The Pension Regulator. That’s why many businesses are choosing to outsource automatic enrolment.
Corporate pension and automatic enrolment specialists
When you outsource your auto-enrolment pension project to us, you can expect a comprehensive yet cost-effective service that is designed to deliver exactly what your business needs in terms of advice, management, administration and servicing.
This means we’ll work with you to:
- Develop and manage your auto-enrolment project plan
- Select the right pension provider for your business
- Choose an appropriate investment fund
- Prepare a staff communication strategy and help deliver communications
- Categorise members appropriately
- Link payroll data to auto-enrolment software
- Implement and launch the pension scheme
- Service and administer the pension on an ongoing basis