The Chartered Institute of Payroll Professionals ……………………………………………………………Policy News Journal
Awareness and understanding of automatic enrolment is now almost universal amongst business advisers - and more than nine out of ten are now helping clients meet their duties. Workplace pensions are becoming business as usual across the UK, with employers confident they can comply and the majority of advisers having now been approached by employers. Between 84-94% of all intermediary types had been approached by clients regarding automatic enrolment services; this contact was perceived to be mostly prompted by direct communications from the regulator. Familiarity with the regulator remained at a high level this wave for all intermediary types and the regulator’s website remains popular – 90% of intermediaries had visited the TPR website. Most intermediaries either had faced, or expected to face, challenges when responding to clients and offering automatic enrolment services. Around half of accountants, bookkeepers and payroll administrators continued to feel ‘partially’ able to answer clients’ queries. There remained significant differences in the specific types of services offered by intermediary types.
This is the second survey in a row that advisers have shown such high levels of understanding and activity and as a result this will be TPR’s last intermediaries’ awareness survey, however they will continue to work closely with professional bodies and closely monitor the impact of their communications to advisers.
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Delay in automatic enrolment contribution rises confirmed 19 July 2016
Legislation has been laid before Parliament which confirms that the next two phases of minimum contribution rate increases will be aligned to the tax years.
As previously announced in the Spending Review and Autumn Statement 2015 , to simplify the administration of automatic enrolment for the smallest employers in particular, the next two phases of minimum contribution rate increases will be aligned to the tax years. Instead of increases taking place in October, they will now occur in April of the following year. Legislation which comes into force on 1 October 2016, The Employers’ Duties (Implementation) (Amendment) Regulations 2016 , confirms the delay to the next two scheduled increases in automatic enrolment minimum contribution rates. Under the current timetable minimum level contributions are scheduled to rise from 2% to 5% in October 2017, and from 5% to 8% in October 2018. These increases will now take effect in April 2018 and April 2019.
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Automatic enrolment: Do you know how and when to use postponement? 19 July 2016
According to The Pensions Regulator (TPR) business advisers are not clear about when to best use postponement and what actions need to be taken.
Research by TPR has shown that there is now almost universal understanding among business advisers of the tasks that need to be carried out for employers to comply with their automatic enrolment duties. An area which continues to prompt questions from advisers is postponement – a useful tool for employers, especially those who employ temporary or seasonal workers.
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The Chartered Institute of Payroll Professionals
Policy News Journal
cipp.org.uk
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