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Pensions Auto Enrolment

All businesses will soon have to establish and contribute to a pension scheme for their employees.

The payroll bureau at Morris & Co is already dealing with Auto Enrolment for clients where their Staging Date has already arrived. They are, therefore, already very experienced in what is required and are able to advise you and help you establish:-

  • Your staging date.
  • Who is and who isn’t classed as a worker for the purposes of Auto-enrolment.
  • Which pension scheme provider you are going to use (the Government’s scheme is called NEST but you can choose your own approved provider).
  • Which employees it affects when you run the payroll, ensuring that non-eligible workers are identified if they later become eligible due to earnings or age.
  • Whether to allow employees aged under 22 or over state pension age to opt in if they choose to do so
  • Which earnings level to base the contributions on (basic pay, total earnings or “qualifying earnings”)
  • Whether or not to allow employees on low pay into the scheme (you don’t necessarily have to).
  • The level of contributions required:-

 

1st October 2012 - 30th September 2017:   2% of which 1% must come from the employer
     
1st October 2017 - 30 September 2018:   5% of which 2% must come from the employer
     
From 1 October 2018 on an ongoing basis:   8% of which 3% must come from the employer

 

Whilst you may know your Staging Date, the whole Auto Enrolment process really needs to be begun at least twelve months before your staging date.

What We Can Do For You

As well as advising you about the implementation of Auto Enrolment in your business, the Morris & Co Payroll Bureau will do the following:

  • Help you decide which of your employees need to be part of Auto Enrolment and record this.
  • Prepare and send the letters, on your behalf, to advise your employees about what Auto Enrolment involves and their rights and choices.
  • For those who do not opt out, register them for Auto Enrolment, and register them with your pension provider.
  • Calculate the necessary employer’s contribution to Auto Enrolment each month, and calculate the employees’ contribution from their pay (as part of the payroll process).
  • Forward these contributions (by BACS) to your pension provider.
  • Write regularly, to those employees who have decided to opt out, to remind them that they still may join the scheme (as required under the Government Regulations).
  • Write to all of your new employees, and any existing employees who become old enough to join the scheme to let them know how they may become part of Auto Enrolment.

If you would like more information about Auto Enrolment, and your responsibilities as an employer, and how Morris & Co can help you with these responsibilities, then please do contact Allan Jones at payroll@moco.co.u

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