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Automatic Enrolment

Auto Enrolment – An Update

5/10/15

We are now seeing a noticeable increase in the number of clients reaching their “Staging Date” and having to automatically enrol their employees in a pension scheme.

 

Joanne Hagreen, robinson+co’s Auto Enrolment specialist, unfortunately confirms what we suspected back in 2013 when we started to look at Auto Enrolment:

 

“The process of auto enrolling is not straightforward and does involve a considerable time investment to ensure that everyone – you, your employees and the pension provider - has the information they need when they need it. Luckily, things do settle down after the first couple of payroll runs including automatic enrolment, but you still need to be on your toes as there seems to be a few software glitches at both ends of the process, and no matter who you are using.”

 

However, Joanne can make the job easier – she has experience with different pension providers as well as different payroll software, including Sage and Quickbooks, and is quick to notice the quirks and glitches within each system – which could save you valuable time.

 

In addition she has access to the prescribed letters that an employer must send to their employees. These are extensive in scope and being able to access them quickly and efficiently can, again, save you time. Joanne has built up a bank of letters covering all possibilities.

 

One thing to be aware of is that some pension providers do not take the first contribution(s) until the 6 week “opting out” period is finished. This is clearly to avoid having to repay any amounts to employees, but it does mean that the employer has to watch for a large direct debit, and ensure that the cash is available!

 

Equally, it has become clear that the number of people opting out is much less than expected. At the moment the contribution level is 1% of salary only, so the opt outs may start in earnest after 1 October 2018 when the contribution level will be 5%.

 

Frighteningly, whilst many employers have not yet even reached their Staging Date, some are not far from the 3 year anniversary when employees who have opted out, have to be automatically enrolled again. This is going to be annoying for the employer and the employee, both of whom have to jump through various hoops in order to restore the status quo!

 

Finally, NOW Pensions are planning on enhancing their online services by introducing online chats and screen sharing to support employers. However, this will - obviously - come at an extra cost to the employer! NOW will be charging an extra £40 per month for firms staging from 2016 onwards. This is most definitely a factor to consider when choosing a pension scheme as Auto Enrolment is becoming increasingly costly!

 

Joanne can be contacted on 01900 603623 or joannehagreen@robinsonco.co.uk

Have you received another letter from The Pensions Regulator?

6/10/2015

Please see the example letter below and if you have received one of these letters please do not ignore it as this means you only have six months until your staging date and time is of the essence.

 

If you have not started to prepare for your staging date get in touch with our Auto Enrolment specialist Joanne Hagreen and she will help and advise you accordingly.

 

Joanne can be contacted on 01900 603623 or joannehagreen@robinsonco.co.uk



 

Our in-house Specialist is here to help you

Joanne Hagreen is a qualified Payroll and Tax Specialist who leads robinson+co's Automatic Enrolment team.

Joanne, our specialist in all aspects of Automatic Enrolment says 'It is important you speak to either me or your usual contact at robinson+co as soon as you receive your letter from The Pensions Regulator asking you to nominate a contact in readiness for your staging date. Most employers will assume their staging date is some time away, but action needs to be taken much sooner than this to ensure your business conforms to Automatic Enrolment legislation'.

 

Joanne can be contacted on either 01900 603623 or joannehagreen@robinsonco.co.uk

Auto Enrolment - Watch your Letterboxes!

5/18/2015

As you may or may not be aware, The Pensions Regulator (TPR)are now issuing letters asking you to nominate a contact. However, we haverecently received a different letter from TPR as shown below.

 

This letter states that you do not need to take any furtheraction with regards to Auto Enrolment as there are no “workers” on the payrollscheme.

 

In this context an employer has no “workers” - and no AutoEnrolment duties if the following applies:

 

•There is only one director, or

•There is a number of directors, none of whom has an employment contract, or

•There is a number of directors, only one of whom has an employment contract

 

If any of these apply to you and you have received a letter from TPR, pass this to Joanne Hagreen; robinson+co'sAuto Enrolment specialist.

 

As the team at robinson+co keepsaying; if you receive any correspondence from The Pensions Regulator, please forward this to us and we will advise accordingly.

 

So, watch your letterboxes!

 

Automatic Enrolment

7/9/2014

The heat is rising as the rules start to affect smaller businesses.

“As expected, the initial time investment is considerable,” says VictoriaBishop, robinson+co’s Tax Partner. “We are using Sage 50 Payroll software and everything we need is on there – but nonetheless it takes time to make sure everything is correct and to print the correct letter – it is already clear that email is the way to go if at all possible!”

If you do not already know your “Staging Date” it is important to find it out now – you may be able to forget about Auto Enrolment for another year, but equally you may need to start planning.

Victoria is leading the Payroll Department as we help our clientswith this major change of legislation.

Remember, though, Victoria and her team can only help with the administration of Auto Enrolment – for advice as to the best pension scheme for your needs you must talk to Jenny Armstrong, robinson+co’s Chartered Financial Planner.

Contact Victoria or Jenny on 01900 603623.

Automatic Enrolment - a further update

The heat is rising as the rules start to affect smaller businesses.

“As expected, the initial time investment is considerable,” says Victoria Bishop, robinson+co’s Tax Partner. “We are using Sage 50 Payroll software and everything we need is on there – but nonetheless it takes time to make sure everything is correct and to print the correct letter – it is already clear that email is the way to go if at all possible!”

If you do not already know your “Staging Date” it is important to find it out now – you may be able to forget about Auto Enrolment for another year, but equally you may need to start planning.

Victoria is leading the Payroll Department as we help our clients with this major change of legislation.

Remember, though, Victoria and her team can only help with the administration of Auto Enrolment – for advice as to the best pension scheme for your needs you must talk to Jenny Armstrong, robinson+co’s Chartered Financial Planner.

Contact Victoria or Jenny on 01900 603623.

Don't throw it away...

If you receive any letters headed up "Auto Enrolment" it is important that you forward them to your usual contact at robinson+co immediately.

Auto Enrolment is the biggest reform of UK pension legislation in a generation and means that ALL employers are required by law to automatically enrol all eligible workers into a workplace pension and to make a pension contribution of at least 3% to their employee's pension pots.

There are harsh penalties for not complying with the legislation which could be as much as £10,000 per day for the largest employers, but even at the more realistic rate of £2,500 per day is penal.

At robinson+co we recognise that Auto Enrolment is not just about having a pension scheme in place in time, it will also have an impact on your payroll, cashflow, staffing and recruitment levels.

Accordingly if you have any questions please contact - in the first instance - Victoria Bishop, Tax Partner on 01900 603623 or victoriabishop@robinsonco.co.uk

 

Automatic Enrolment – The cost of non-compliance

The Pensions Regulator is recommending that employers get ready for Automatic Enrolment at least 18 months before their staging date.

The table below illustrates the escalating penalties that may be applied to employers who do not comply with Auto Enrolment requirements.

Number of employeesPrescribed daily rate
1 - 4£50.00
5 - 49£500.00
50 - 249£2,500.00
250 - 499£5,000.00
500 +£10,000.00

As already mentioned in our news article on 29 October, we will be contacting our clients 18 months before their enrolment date and have arranged a full, tailored support package to help you ensure you are ready!


Automatic Enrolment – Reform of UK Pension Legislation

October 2012 saw the introduction of auto enrolment – the biggest reform of UK pension legislation in a generation.

This legislation change will mean that ALL employers are required by law to automatically enrol all eligible workers into a workplace pension and to make a pension contribution of at least 3% to their employee’s pension pots.

At robinson+co we recognise that auto enrolment is not just about having a pension scheme in place, it will also have an impact on your payroll, cashflow, staffing and recruitment levels.

We are therefore arranging a timetable of events to ensure we provide a full, tailored support package in this important and complex reform.

Further information will be available in the coming months, however if you have any questions in the meantime please contact Victoria Bishop, Tax Partner on 01900 603623 or victoriabishop@robinsonco.co.uk or our Chartered Financial Planner, Jenny Armstrong on 01900 603623 or jennyarmstrong@robinsonco.co.uk


Automatic Enrolment - Seminar Update

robinson+co is pleased with the response to the recent seminars held on Auto Enrolment. The speakers were the robinson+co team of Victoria Bishop and Jenny Armstrong together with Simon Ward from HFT Gough & Co - solicitors in Whitehaven and Workington.

Although many employers are looking to 2016 or even 2017 before they need to auto enrol, the feedback from the attendees was that they would like to be warned sooner rather than later - even if you think your employees will opt out; even if you think your employees will not qualify to be enrolled – there is still a lot of admin to do if you want to avoid the draconian penalty regime.

“We will be repeating the seminar at regular intervals over the next few years,” says Roger Troughton, Managing Partner at robinson+co, “so even if you were not able to make the first seminars there will be opportunities for you to catch up. If you want to be put on the list for the next seminar please contact Philip Allison, Practice Manager on 01900 603623 or philipallison@robinsonco.co.uk.”

In the meantime, if you have any queries please contact Victoria Bishop on 01900 603623 or victoriabishop@robinsonco.co.uk, and watch this space for further information.


The Pension Regulator has opened up 89 investigations into non-compliance by large employers.

These investigations focused on employers readiness and related compliance requirements.

This figure comes from a report produced by The Pension Regulator that covers the largest employers in the UK who have already entered Automatic Enrolment. In most cases these companies would have sufficient internal resources to aid them through the Automatic Enrolment process.

If larger employers are getting it wrong, how will you cope in the future when access to Government advice may be more restricted because of the massive increase in demand?

If there’s anything that these 89 cases of possible non-compliance tell us, it is that you must start to prepare early for Automatic Enrolment.

robinson+co can provide the level of support required to ensure you have fully compliant systems, processes and pension schemes in place for your staging date. If you don’t have all of these in place correctly, you face investigations and possible fines from The Pensions Regulator.

Please contact Victoria Bishop, Tax Partner on 01900 603623 or victoriabishop@robinsonco.co.uk or Jenny Armstrong, Chartered Financial Planner on 01900 603623 or jennyarmstrong@robinsonco.co.uk for more information on the help you need and the support we can provide.

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Tyson H Burridge, Tyson H Burridge Ltd

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