Auto Enrolment/ Pensions

What should you know!
What HDH Accountants can help with

Auto Enrolment/Pensions

Under the Pensions Act 2008, every employer in the UK must put certain staff into a workplace pension scheme and contribute towards it. This is called ‘automatic enrolment’. If you employ at least one person you are an employer and you have certain legal duties.

At HDH Accountants, we can help you ensure your business meets its obligations efficiently.

What you need to do with the Auto Enrolment Pensions

Automatic enrolment is a continuous responsibility – your duties do not end after your employees start date. 
Each time you pay your employees you must monitor changes in their age and earnings to see if they need to be added into your scheme.
Every three years you must carry out re-enrolment to offer the employees back in if they have left your scheme. 
You will also need to continue paying into your pension scheme, manage requests to join or leave the scheme and keep records.

Key things to know

Keep good records

Legally you must keep records of how the company has met your legal duties as an employer, including:

  • Employees names and addresses of those added into a pension scheme
  • Records of when money was paid into the pension scheme
  • Requests to join or leave the pension scheme
  • Pension scheme reference or registry number

You must keep these records for six years with the exception of requests to leave the pension scheme which must be kept for four years.

Continue to pay!

Once you have set up a pension scheme and put your eligible staff into it, your legal duties don’t end there. You must continue to make the payments into the pension scheme every time you run the company payroll.

Additional Funding Opportunities

There are many tax incentives, grants and funding initiatives available to UK businesses. Whether you’re a start-up or an established business, we can provide you with the crucial advice that will help you access additional cash to help your business grow. We are partnered with Counting King, an industry leading firm that specialise in tax incentives that can support you with accessing additional funding support. Get in touch to find out more about what cash is available to you today! 

Auto Enrolment Pensions

Overview

All staff members over the age of 22 and earn over £10,000 per year are eligible to be enrolled in the Pensions scheme.

Overview

All staff members over the age of 22 and earn over £10,000 per year are eligible to be enrolled in the Pensions scheme.

Accounts

Your duty is then to make sure that all staff have payments made into the Pension scheme.

Accounts

Your duty is then to make sure that all staff have payments made into the Pension scheme.

Data Driven

You are required to keep a track of all records of staff and payments made as well as people who have left the scheme.

Data Driven

You are required to keep a track of all records of staff and payments made as well as people who have left the scheme.

For any help or advice please contact us:

Submit Before The 31st January

Be aware that choosing the best workplace pension provider can be tough. There are a number of workplace pension schemes available, all with a unique blend of pros and cons. Looking into these to get the best solution for your business and the employees can be very beneficial.

It isn’t always easy to compare different providers. Each scheme can have a completely different fee structure so it is hard to know which provider actually offers value for money?

Let us go through this with you and guide you on who top use and why.

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