The Chartered Institute of Payroll Professionals ……………………………………………………………Policy News Journal
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Key automatic enrolment messages for business advisers 10 January 2017
The Pensions Regulator highlights the areas that business advisers should be focusing on this month.
New Year’s resolution to stay ahead of your paperwork? Don't let your clients ignore the workplace pension. All employers have automatic enrolment duties and you should make sure your clients are ready for their staging date, which is when they’ll need to put certain staff into a pension scheme.
Encourage your clients to use The Pensions Regulator’s duties checker to find out exactly what their duties are, what they’ll need to do, and by when. Help them avoid leaving their preparations until the last minute.
Nobody to put into a pension scheme? If your client has no one to put into a pension scheme, they can bring their staging date forward to any date and declare their compliance at the same time.
Completing the declaration early means they can get this task out of the way and don’t need to think about it anymore.
To find out more, go to Bringing your clients staging date forward
Has a client missed their staging date? They need to take action NOW to avoid a fine. TPR recognises that most employers will want to do the right thing for their staff and will work with them if they haven’t understood their duties or have been unable to comply. However, those who do not comply by their deadline risk a fine – TPR will use their powers where necessary to ensure compliance.
If you have clients who are late complying or think they might be, they should tell TPR about it straight away. To find out more, go to: What happens if my client doesn't comply?
Re-enrolment: Complete the redeclaration of compliance at the same time as re-enrolling staff. Why wait? Every three years employers must put certain members of staff back into an automatic enrolment pension scheme. This is called re-enrolment.
If you’ve chosen your re-enrolment date for your client, then put a note in your diary to complete their re-declaration of compliance at the same time and tick both off your list in one fell swoop.
For more information, go to the re-enrolment section on TPR’s website.
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Update from The Pensions Regulator 16 January 2017
Included is new website information about automatic enrolment exemptions and free half day seminars available in February.
Everything you need to know about automatic enrolment exemptions In response to feedback from advisers at TPR events and webinars, new information about automatic enrolment exemptions has been added to the business adviser section of TPR’s website. Now you will find all you need to know about staff who don’t have to be automatically enrolled, such as sole directors of companies, all in one place.
The new section also covers the regulation changes that were made in April 2016 and what they mean for your clients – e.g. they can now choose whether or not to enrol directors working under an employment contract.
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