5 New Year’s Resolutions for Employers
January 5, 2015 By SGW Payroll | Blog
Hopefully your year is off to a great start! Make sure it continues by adhering to the following New Year’s Resolutions.
Find out your staging date
Firstly, a staging date is when your auto enrolment responsibilities first come into play. Knowing your staging date is imperative for your business. No matter what your business size, what kind of payroll you have or what industry you’re in, auto enrolment is a legal requirement set by the government for all businesses. It can take a business 12-18 months prior to their staging date to guarantee everything is set in place and ready to go! Find out your staging date.
Research a pension provider
To find the best pension provider for your business, it is important to thoroughly understand what it is you expect from your provider. One of the most important questions to ask the pension provider is to explain how their scheme complies with all legal requirements. You can visit The Pensions Regulator for more questions to ask ensuring your business finds the best pension provider possible.
Nominate a contact
To make sure you don’t miss any important information you must nominate a first and a second contact. The first should be the person most senior in your business, normally the CEO of the company. The second contact will be someone who will manage your auto enrolment, normally a HR or Pensions Manager. If no second contact is required, the first contact will receive all emails.
Ensure your admin needs are covered
The employees have to be communicated to frequently, it is important to communicate with them prior to auto enrolment, in an ongoing manner throughout the process and after the staging date. It is important your letters are continuously legally compliant.
Avoid a fine and complete a declaration of compliance
The deadline for your declaration of compliance is 5 months after your staging date. You can complete the declaration online here; you need to provide detailed information through the secure platform, including PAYE references and letter codes. If you do not provide this within the allocated amount of time, you can incur a fine.
If you have any questions about how SGW Payroll can help you with Auto Enrolment please contact us now on: 01270 500 599 or email us at: firstname.lastname@example.orgReturn to newshttps://www.sgwpayroll.com/news/latest-news/