WHAT DO YOU HAVE TO DO?
WHEN DO YOU HAVE TO DO IT BY?
WHO DOES IT AFFECT?
HOW MUCH DO YOU HAVE TO CONTRIBUTE?
WHY CHOOSE FSB WORKPLACE PENSIONS?
WHERE DO YOU GET STARTED?

Automatic Enrolment is complex.

In our experience the longer you leave to plan for it, the easier the implementation of your qualifying scheme will be.

Every employer will have a date that they will need to comply with the legislation by; this is known as a ‘Staging Date’. The Pensions Regulator will write to you twelve months prior to your staging date and again three months before to make sure you know when it is and that you have time to prepare.

Staging Date Calculator

If you don’t know your staging date, you can find it using our Staging Date calculator by clicking on the image at the top of the page. You will need your employer PAYE reference to hand. If you don’t pay your staff through a PAYE scheme, your staging date will be 1 April 2017.

Why do it now?

Capacity

As you can see from the graphic below, staging dates will peak in the next 12-24 months; with all of those firms attempting to auto enrol at the same time, it’s important to avoid the stampede.

Time to Prepare

Although it’s possible to set up your scheme quicker, The Pensions Regulator advises that you should begin your auto enrolment journey 12 months before your staging date, so you have time to plan properly and ensure that you’re fully compliant in time

Avoid Fines

The Pensions Regulator are getting tougher on firms who do not adhere to the auto enrolment law. An escalating penalty can be charged daily. For a firm employing between 5 and 49 employees this will be £500 per day, so ensure you’re fully compliant by your staging date.

 

new_tsunami-graphic

Postponement

An employer’s automatic enrolment duties always start from its staging date but you can choose to postpone automatic enrolment of employees for up to 3 months, allowing automatic enrolment to be aligned with any other business processes, such as payroll.

You must write to all employees that you are postponing automatic enrolment within six weeks of the postponement period starting to inform them of their rights.

If any employees wish to ‘opt in’ during the postponement period, they must be allowed to and contributions made.

Once out of postponement any ‘eligible jobholders’ must be automatically enrolled into the pension scheme.

Click here to read our guide on Postponement.

At Staging Date
Changing Category of Worker
New Employee