Automatic Enrolment

Automatic Enrolment – Ongoing Pension Duties for Employers

Posted on 5th Feb 2018 - Share this blog/article

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Automatic Enrolment 

The legislation surrounding automatic enrolment in workplace pensions has now been in effect for five years. The Pensions Regulator (TPR) has just won its first criminal prosecution against an employer for not providing a workplace pension scheme. Legal obligations have now been met by a majority of employers.

The increase in contributions is due in April 2018.

But you may not be aware of the ongoing regulatory duties which are crucial to the process.
To ensure that employers continue to meet their responsibilities, all aspects of the auto enrolment
compliance must be reviewed and regularly audited.

Will you be audited?

In March 2017, TPR announced that it would conduct ‘spot checks’ on employers across the UK.

It has since sent audit meeting requests to businesses in London, Greater Manchester, Sheffield,
Birmingham,
Edinburgh, Glasgow and South Wales. We can expect TPR to continue directing resources towards auditing and reviewing employers that have already staged for auto enrolment, to make sure they are complying with their workplace pension duties.

How to ensure a successful audit?

You must ensure you:

  • carried out and documented due diligence when workplace pension scheme was implemented
  • have a pension scheme that is still fit for purpose – have you reviewed charges, investment performance and employee support capability?
  • communicate with your employees. TPR may request an audience with them
  • audit the contributions that are calculated and paid to the pension provider each month
  • have auto enrolled all eligible employees
  • have a process in place for new employees
  • have a process in place to satisfy the re-enrolment requirements
  • have key decision makers within your organisation dedicated to ensuring compliance is met

 

Why not book a free consultation with us and let us review if you have the correct scheme in place for your staff.

Banner Employers Ongoing Duties

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