Call Us Today - 01229 821270 or 07725 735581 | info@turnstonehr.com
Are you auto-enrolment ready?
[fusion_builder_container background_color=”” background_image=”” background_parallax=”none” enable_mobile=”no” parallax_speed=”0.3″ background_repeat=”no-repeat” background_position=”left top” video_url=”” video_aspect_ratio=”16:9″ video_webm=”” video_mp4=”” video_ogv=”” video_preview_image=”” overlay_color=”” overlay_opacity=”0.5″ video_mute=”yes” video_loop=”yes” fade=”no” border_size=”0px” border_color=”” border_style=”” padding_top=”20″ padding_bottom=”20″ padding_left=”” padding_right=”” hundred_percent=”no” equal_height_columns=”no” hide_on_mobile=”no” menu_anchor=”” class=”” id=””][fusion_builder_row][fusion_builder_column type=”1_1″ background_position=”left top” background_color=”” border_size=”” border_color=”” border_style=”solid” spacing=”yes” background_image=”” background_repeat=”no-repeat” padding=”” margin_top=”0px” margin_bottom=”0px” class=”” id=”” animation_type=”” animation_speed=”0.3″ animation_direction=”left” hide_on_mobile=”no” center_content=”no” min_height=”none”][fusion_text]
Are you a small business employing 1 – 4 people?
Are you auto-enrolment ready?
Employers unaware of their responsibilities run the risk of £22m in auto-enrolment fines.
Britain’s smallest businesses could be penalised with fines of up to £22m between now and the end of next year because they are still unaware of their pensions auto-enrolment responsibilities.
Are you amongst the estimated 21 per cent of the UK’s micro-businesses with a “limited understanding” of your upcoming duty to provide staff with a pension?
There are 262,000 micro-businesses (employing one to four people) among the 1.8 million employers required to begin rolling out a workplace pension between now and 2018. Without taking remedial action, companies collectively risk around £22m in fines for non-compliance.
Recently, the Pensions Regulator published data on non-compliance for the second quarter of this year, which showed it had to use its powers 4,489 times, up from 4,161 occasions in the previous quarter.
Even very small employers need to be on top of things.
It can take three to four months to set up a proper scheme. But just as importantly, scheme providers themselves will only be able to take on so much new business the nearer the deadline looms. Those who leave it too late may find a provider is unable to work with them in time.
What do you need to do?
- Find out whether you, as an employer, are subject to the new duties.
- Find out your staging date. This is the date when these new responsibilities come into effect for your organisation, and this date will differ from organisation to organisation.
- Work back from that date to plan in the actions necessary to prepare for your new duties.
Employers with fewer than 50 employees in their PAYE scheme will be “staged” between 1 June 2015 and 1 April 2017.
Are you auto-enrolment ready?
[/fusion_text][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]
Sorry, comments are closed for this post.