Has your Company reached its Staging Date for Pensions and auto-enrolment?

Another staging date has passed and the next is fast approaching, but are you unsure of what you need to do? Have you missed your pension staging date?, don’t know when your staging date is? or aren’t sure?.  Don’t panic!  Check your date HERE then read on for an overview of everything you need to know.

If you know that you have definitely missed your staging date for auto-enrolment then you will need to notify The Pensions Regulator immediately so they can advise you on what your next steps are.  Things to remember:

When selecting your pension provider you will want to choose a platform that fits with your needs, but you need to take into consideration other factors too such as initial upfront fees, on-going annual costs and cost to employees.

If you have signed up late, you will need to cover the costs of the company’s backdated contributions and possibly your employee contributions too, depending on how late you are.

Make sure that your payroll is compatible with your chosen pension provider, you don’t need to make more work for yourself each month.

Employees must be kept up to date with any changes that are taking place, how auto-enrolment affects them and be clear with what their options are.

Lastly do not forget to submit your declaration of compliance which you can do HERE. Non-compliance can be costly in the long run so act fast and get on board sooner rather than later.

If you’re still in doubt, or need more advice, download the HR Revolution Guide to Pensions and auto-enrolment it’s FREE and can save you money!

So here are the Key Facts: 

Know Your Staging Date 

This is the first port of call, so act now to ensure you are ready! Click HERE

Select Your Pension Provider

HR Revolution partner with payroll and pension providers and would love to put you in touch. Our Free guide will talk you through everything you need to know, then when you are ready get in touch info@hrrevolution.co.uk or click HERE

Ensure Your Payroll Is Compatible

Do you need to outsource your payroll and pension provider? HR Revolution can help! We partner with companies that we would love to put you in touch with, or we can fully manage this as part of your HR on your behalf.  Get in touch info@hrrevolution.co.uk or – click HERE 

Keep Your Employees in the Loop

As an outsourced HR provider we know how important effective communication can be. Download our Free Guide now and get in touch for help and advice on how to roll out the process to your employees.  Email us at info@hrrevolution.co.uk or – click HERE

Submit Your Declaration Of Compliance

You will need to submit a declaration of compliance to The Pensions Regulator within five months of your initial staging date. This means that even if you have been granted an extension to postpone your auto-enrolment staging date by The Pensions Regulator, you will still need to submit your declaration five months from your original staging date. If in doubt, check with The Pensions Regulator click HERE

Non-Compliance And Penalties

Sounds scary, but the reality is if you fail to act and comply with auto-enrolment of eligible employees into a workplace pension The Pensions Regulator can take matters into their own hands. There are several different penalty options that can be enforced from warnings to escalating penalties, so remember it is in your best interests, after all the longer you leave it the worse it will be.  For the full information on penalties click HERE
Remember if you are unsure, download our FREE guide HERE or get in touch and talk to one of our HR Consultants to see how we can help!
http://www.hrrevolution.co.uk  l  info@hrrevolution.co.uk  l  www.hrrevolutionshop.co.uk

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