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Home > > Employers Need To Enrol Their Employees Into Pension Schemes
Employers Need To Enrol Their Employees Into Pension Schemes
From the 1st of June 2015 a company that employs 30 people or less will need to have a qualifying auto enrolment pension in position. So if your business owner of a small firm or company, you will be required by law to enrol your staff into a company pension scheme.
The new regulations cover companies or businesses that employ anyone over the age of 22 and who earns £10,000 plus per year, even affecting the single employee such as a nanny.
Every employer will be given a deadline when these schemes must be in place, meaning that if a qualifying, and fully maintained scheme is not in place then fines or penalties will come into effect. The first phase starts on Monday the 1st affecting 14,000 small companies.
By the end of October 2017 there will be a conservative estimate of 1.3 million businesses enrolling 10M workers plus into the pension scheme.
Action staff Limited have teamed up with Staff- plan Pensions to help employers put a qualifying pension scheme in place, helping the employer to keep compliant, making sure that the business owner or director can run their businesses or companies without fear of falling foul to the pension regulators very strict pension rules.
Speaking with a few accounting firms who have started to wake up to the burden to what this could mean for them if they get it wrong for their clients, in terms of the work and effort required to comply. Some accountants are already suggesting to their clients that they find a professional service to help with this requirement; it is for this reason why Action Staff - Staff Plan have come together.
Smaller businesses or companies from hair dressers to carers, nannies grocers and lot of other retailers will be included in this initial role out.
Employers could be fined if they ignore or fall foul to these new regulations. Some companies have buried their heads in the sand, feeling that they have time before they meet those deadlines, but employers forget that if a pension scheme is not in place and companies are caught out due to over capacity at the time of their staging date. Then a sharp penalty or fine will jolt them into reality.
The strong advice from the Pension Regulator is to get it done now and quickly, for most employees this is great news for the employer this might be a nightmare.
At Action Staff-Staff Plan we can help by getting you auto enrolment ready, making sure that you are fully compliant to meet the new pensions rules.
Get in touch and speak with James Anthony at Action Staff - Staff plan call 0844 057 0224 today!
The new regulations cover companies or businesses that employ anyone over the age of 22 and who earns £10,000 plus per year, even affecting the single employee such as a nanny.
Every employer will be given a deadline when these schemes must be in place, meaning that if a qualifying, and fully maintained scheme is not in place then fines or penalties will come into effect. The first phase starts on Monday the 1st affecting 14,000 small companies.
By the end of October 2017 there will be a conservative estimate of 1.3 million businesses enrolling 10M workers plus into the pension scheme.
Action staff Limited have teamed up with Staff- plan Pensions to help employers put a qualifying pension scheme in place, helping the employer to keep compliant, making sure that the business owner or director can run their businesses or companies without fear of falling foul to the pension regulators very strict pension rules.
Speaking with a few accounting firms who have started to wake up to the burden to what this could mean for them if they get it wrong for their clients, in terms of the work and effort required to comply. Some accountants are already suggesting to their clients that they find a professional service to help with this requirement; it is for this reason why Action Staff - Staff Plan have come together.
Smaller businesses or companies from hair dressers to carers, nannies grocers and lot of other retailers will be included in this initial role out.
Employers could be fined if they ignore or fall foul to these new regulations. Some companies have buried their heads in the sand, feeling that they have time before they meet those deadlines, but employers forget that if a pension scheme is not in place and companies are caught out due to over capacity at the time of their staging date. Then a sharp penalty or fine will jolt them into reality.
The strong advice from the Pension Regulator is to get it done now and quickly, for most employees this is great news for the employer this might be a nightmare.
At Action Staff-Staff Plan we can help by getting you auto enrolment ready, making sure that you are fully compliant to meet the new pensions rules.
Get in touch and speak with James Anthony at Action Staff - Staff plan call 0844 057 0224 today!
By the end of October 2017 there will be a conservative estimate of 1.3 million businesses enrolling
