Workplace Pensions

We provide three key services – scheme set-up, compliance and payroll.

By law, every UK employer must provide a suitable pension scheme and auto enroll eligible employees into it. Employers must also make contributions into the scheme on behalf of their employees.

What does this mean for new employers?

All existing employers already have to comply with auto enrolment requirements, however any new employers will have to commence duties as soon as they start to employ their first worker(s). The legislation surrounding Auto Enrolment can be bewildering especially if you have never had a Workplace Pension scheme in place before. There are 3 main elements to becoming fully compliant, firstly a workplace pension scheme will need to be set up, then ongoing compliance duties will commence and finally, you will need to integrate these duties with running your payroll.

Which pension scheme should I use?

There are a large number of pension schemes that you could choose to use ranging from sophisticated Group Personal Pension Plans offered by traditional life assurance companies, through to simpler but less flexible Master Trust based plans, where multiple employers join the same scheme and in effect have their own section.

Since the Auto Enrolment legislation went live we have seen a huge number of new pension scheme providers enter the market and we are concerned that not all of them are going to survive for the long term, potentially leaving employers in the lurch if they fail. We have carried out a great deal of due diligence in the pension market and have arrived at a small panel of pension scheme providers that we have confidence will survive in this new market.

By using our service we will provide you with a full recommendation as to which pension provider best suits your business and will implement the scheme for you so that it is ready to use from the date your duties start.

What about complying with all the rules and regulations?

With Auto Enrolment comes a huge raft of employer duties such as keeping records, enrolling staff when they qualify for the pension scheme, re-enrolling staff who have opted out etc. We have identified 32 different duties that have to be carried out in order to remain compliant with the rules and 26 of these have to be completed at each pay run. Our service takes all of this hassle away and helps you remain compliant without interrupting your normal business processes.

How is my payroll affected?

Those employees who are eligible to be enrolled into the pension scheme will need to have pension contributions deducted from their pay and you as their employer will also have to make pension contributions to their pension plan. These contributions will have to be accounted for and shown on each employees’ payslip and the amounts will have to be forwarded to the pension company at each pay run.

Outsourcing these duties can save you time and allow you to concentrate on running your business. We have a dedicated payroll bureau service that can take care of all of these extra pension duties alongside running your normal payroll.

Our Service

Our comprehensive, modular approach to auto-enrolment enables you to opt for any or all of the following three services:

Pension scheme recommendation and implementation
AE Compliance and record-keeping
Payroll

The costs of not complying

If your business fails to comply with its legal duties for automatic enrolment The Pensions Regulator may take enforcement action including compliance notices and penalty notices.

Let us take the risk and time burden away from your business. Please call us on 0800 8321785 or email us to discuss your requirements.