We’ve prepared communications guidelines to help you with this. Now: Pensions offers a relatively straight-forward and easy to set up system, but its fees need slightly more understanding. As part of our commitment to provide the best experience for your client, we provide implementation support through our experienced team to guide you through setting up your scheme as quickly and efficiently as possible. This guidance describes the required criteria. There are a number of different types of pension arrangement including defined contribution (DC),... Automatic enrolment criteria. This page has advice on adjusting pension settings in ‘Company Maintenance‘ > ‘Pension‘ where, amongst other things, you can mark a pension as the main Auto Enrolment fund for the company. The Pensions Regulator is responsible for ensuring that all employers comply with workplace pension law. Salary Exchange. Master trusts are also required to obtain authorisation. Set up Auto Enrolment information e.g. We use necessary cookies to make our website work. They also have a duty to automatically re-enrol jobholders in various circumstances into such a scheme, or enrol a jobholder who has chosen to opt in to such a scheme. Setting up a Pension Scheme. Advisers. Find out more about your, You may need to think about one-off costs to set up automatic enrolment, as well as the ongoing cost of paying money into the scheme and managing the process. You can always change your mind and disable them from our cookies policy page. pension scheme in place for the rst time to full their enrolment duties, will need to put an automatic enrolment scheme in place with effect from the date the duties rst apply to them. To help you manage your schemes, you can quickly and easily set them up in Payroll. Under the Pensions Act 2008, every employer in the UK must put certain staff into a workplace pension and pay into it. Works alongside your payroll software Does the scheme you’re considering work seamlessly with your payroll software? Please enable javascript to ensure you can use this website to its full extent. Register as an employer and set up PAYE Nest Pensions provide free auto enrolment for employers. This is called the National Employment Savings Trust (NEST). 1 article in this collection Written by Sam Barton. Find out what you'll need to do for automatic enrolment if you employ staff for the first time. Whether you're an architect, a newsagent, have a personal care assistant or a nanny, you are an employer from the day your first member of staff started working for you and you have legal duties. Your email address will only be used to reply to your comment. How to set up a new workplace pension scheme with Smart Pension. Use our online tool to find out what you'll need to do for automatic enrolment. The Pensions Act 2008 set up UK Auto Enrolment and set out the penalties that can be imposed on companies by the Pensions Regulator for non compliance. If you are an employer, then you are required by law to provide a workplace pension scheme for all your eligible staff. Your browser is out of date, and unable to use many of the features of this website. Your browser currently has cookies disabled. That’s why we’re here to talk you through a late or missed duties start date. Schemes used for automatic enrolment must meet certain legal criteria. All workers aged between 22 and state pension age earning more than £10,000 a year are automatically enrolled into a scheme. You also need to ensure that default arrangements in DC schemes which are being used to comply with automatic enrolment duties meet the required charge controls. NEST cookies. Setting up a scheme. Skip to Main Content. Postponement. All employers. This website requires javascript. On your duties start date – or up to three months later if you’re using postponement. Your employer can delay the date they must enrol you into a pension scheme by up to 3 months. You must ensure that schemes you set up for automatic enrolment meet certain legal criteria. Step 3: Register as an employer and set up PAYE You need to register with HMRC so you can pay tax and national insurance for your employees. 10. Now: Pensions is proving to be a popular choice for small businesses looking to set up their auto enrolment company pension scheme. To receive these cookies, please click Accept cookies below. Cookies are small files stored on your device. The Pensions Regulator will give you guidance and tools to help you meet your automatic enrolment duties. This is called the ‘duties start date’ and is the date that they take on their first employee(s) 2. If so, you’ll save time and money and free up your staff to do more valuable tasks. You can always change your mind and disable them from our cookies policy page. It’s a legal requirement for all work-based pension schemes that are registered with HM Revenue and... Types of scheme. If you already use Xero, but are new to payroll and auto enrolment, set up your organisation for pensions first, then add auto enrolment. The majority of small or medium sized employers will not benefit from setting up a trust-based scheme as they are generally unable to devote a high level of money and time to running the scheme. For automatic enrolment, you need to have a qualifying pension scheme. It’s important to act now, as The Pensions Regulator can hand out heavy fines to employers that don’t comply with the law. The data we collect is anonymised. 11. What you need to do will depend on whether you have staff who need to be put into a pension scheme or not. All employers have duties, which include completing an online declaration of compliance to tell us what you've done for automatic enrolment. Auto Enrolment Company. We will also contact you to remind you of your legal duties. But don’t worry, it’s not too late! This is called 'automatic enrolment'. Once you’ve registered your basic contact details you’ll receive an email containing a temporary password and an activation code to set up an account with The People’s Pension. Go to Setting up a scheme for information on how we can help you set up an auto enrolment scheme. Each time you pay your staff (including new starters), you must monitor their age and earnings to see if they need to be put into a pension scheme and how much you need to pay in. NEST cookies. Institutions. Please enable javascript to ensure you can use this website to its full extent. 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