Since 2018, all businesses & employers must offer and operate a pension scheme for qualifying employees, with employee & employer contributions.
While you can’t avoid auto-enrolment, you can take steps to minimise the financial impact on your profitability and here are ways that we can help you:
- Identify who will be affected and who will need to be auto-enrolled.
- Explain the financial impact of auto-enrolment on your profit/cash flow and prepare a cost budget
- Prepare communication letters for employees explaining how they will be affected
- Plan for your Staging Date to ensure your payroll is ready for auto-enrolment
- Advise on salary sacrifice and how you and your staff could benefit
- Consider application for Postponement of up to three months
- Ensure your systems are compliant
- Calculate employee and employer contributions and prepare payment schedules for the pension scheme provider
- Assess your workers each pay day to determine if they need to be auto-enrolled
- Register with The Pensions Regulator and help you keep the required records
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