Workplace pensions: Do you know your auto-enrolment responsibilities?
Updated: September 19 2019
Workplace pensions are arranged by employers. The employer and usually employees, contribute to the pension fund. Auto-enrolment requires all employers to automatically enrol eligible workers into a qualifying workplace pension scheme (unless the worker chooses to opt out) to which the employer must also contribute.
From 6 April 2019, the total minimum contribution is 8%, with at least 3% being contributed by the employer. Employers must re-enrol eligible staff who opt-out of a qualifying automatic enrolment pension scheme, with automatic re-enrolment occurring every three years after the employer’s staging date. Further details and the latest figures are available from the HMRC with help also available from the Pensions Regulator and the Department for Work and Pensions
At KentHR we can help you to consider the following strategic issues in workplace pensions:
- What is the status of your staff, who qualifies and when?
- Do employees currently value pension benefits as part of the remuneration package?
- Is the value of the pension benefit effectively communicated?
- Are you building the costs into your business planning?
- Are employees financially aware?
- What culture does the organisation wish to foster?
- Changes ahead and what you need to do.
As pensions auto-enrolment is not a straightforward business, we can also put you in touch with a partner for additional help and advice.
Get in touch today
For more information on how we can support you to effectively communicate the value of the pension benefit, please fill out the enquiry form below to arrange a free 30-minute consultation or to simply pose a question to our HR consultants. Alternatively, call us to discuss how we can help.
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