The Chartered Institute of Payroll Professionals ……………………………………………………………Policy News Journal
Re-enrolment webinar 97% of business advisers who watched TPR’s last webinar said they’d be happy to attend another. Sign up for the next webinar on 14 February, all about re-enrolment.
Did you know? If you’ve assessed your clients’ staff and found they have no one to put into a pension scheme, you can bring their staging date forward and you or they can complete their declaration of compliance early. You can bring your clients' staging date forward on the same form you use to complete the declaration of compliance .
Free half day business adviser seminars Whether you’re new to automatic enrolment or want some guidance on areas that advisers have told TPR they find more challenging, an expert team is on hand to help. They will provide comprehensive information about the tasks employers will need to complete to meet their ongoing duties, including re-enrolment, with plenty of opportunities throughout the day to ask questions about any aspect of the process.
Join TPR for a free half day seminar where you can learn how to help your clients meet their legal duties. Register now for:
Brighton (1 February); or Chester (9 February).
Payroll and assessing the workforce - new animations for business advisers To get the lowdown on how to help your clients with their payroll processes and assessing their staff for automatic enrolment , watch new animations for business advisers.
Do any of your clients employ carers or staff in the home? Watch new animations for employers which explain what they need to do if they employ a personal care assistant (either using their own money or money provided by their local authority or the NHS), or someone in their home , such as a nanny.
Back to Contents
1 in 7 businesses miss their workplace pension start date 19 January 2017
New figures from Aviva have revealed that a growing number of companies are risking a fine by failing to set up their workplace pension in time.
During Q4, 2016:
1 in 7 (14%) of businesses applying to Aviva for a workplace pension made their application after their staging date had passed More than a third of businesses (38%) left their application to the last minute Just under half of companies (48%) prepared for auto-enrolment well in advance. Around 500,000 UK businesses are due to set up a pension scheme during 2017 under auto-enrolment legislation. However, Aviva’s own client data, from its second auto-enrolment application tracker, shows that during Q4 of 2016, 1 in 7 companies that applied to set up their pension with Aviva had missed their staging date – the date by which they should have had a workplace pension scheme in place, which is set by The Pension Regulator (TPR). In a worrying trend, the proportion of firms applying with Aviva that missed their staging date has increased rapidly during the course of 2016, from just 1% in Q1 to 14% in Q4. However, during this time the volume of companies setting up workplace pensions has also increased offering some explanation for the rapid growth of ‘late stagers’.
Figures from The Pensions Regulator show that the number of employers failing to fulfil their auto-enrolment duties is rising. In Q3 2016, 3,728 fixed penalty notices for £400 each were issued; up from just 861 in Q2, 2016.
While the number of companies missing their staging date has been increasing, the number of firms preparing for auto- enrolment two months or more in advance is staying relatively stable (47% - 57%).
The Chartered Institute of Payroll Professionals
Policy News Journal
cipp.org.uk
Page 484 of 588
Made with FlippingBook - Online magazine maker