Automatic enrolment – workplace pension duties
In a nutshell, if you employ people, you need to give them a pension scheme.
The government wants to ensure that everyone has sufficient money to look after themselves in their old age. The way they have decided to go about this is by auto enrolling everyone into a pension scheme. This means that, when you retire, you will get both the State Pension (that you contribute towards through National Insurance contributions) and your pension pot that you now contribute towards automatically.
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.
What you need to do next will depend on whether you’re about to start your automatic enrolment duties or whether you’re coming back for re-enrolment.
Give The HR Team a call today for further support and advice.