Employers must act ahead of April and June auto-enrolment deadlines
Article posted: 22nd February 2018
The clock is now ticking for the June 2018 auto-enrolment deadline when the final 150,000 employers must enrol their employees into workplace pensions. However, there are also important deadlines arising in April for employers with existing schemes.
Since automatic enrolment first launched in 2012, there have been ‘staging dates’ gradually bringing existing employers and their staff into workplace pensions. Details about the staging dates can be found in our blog published in September last year.
For some employers, 2018 marks the third anniversary of their workplace scheme staging date and along with this are some re-enrolment duties. These will vary depending on whether an employer has staff to re-enrol or not but regardless employers must complete a re-declaration of compliance to The Pensions Regulator. Details about the process can be found on The Pensions Regulator website.
Of course, avid readers of our blog and McBrides Business Arena will know that from 6 April 2018, employers will be required to increase the amount of contributions made into their employees’ scheme. For most businesses, this will mean employer contributions increasing from 1% to 2%, while employee contributions will rise from 1% to 3% at the same time. It is worth reminding staff about this important update and telling them about the final increase to contributions in April 2019. Further details can be found in our November blog.
McBrides staff partner Tanya Hamilton says: “The Pensions Regulator website is really user-friendly and should be your first port of call for information about auto-enrolment. However, it’s important to seek advice if you aren't sure about your staging date, contribution levels or anything else as you could face punitive fines for not complying with rules.”
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