More than 200,000 UK employers have now completed their auto-enrolment duties, according to figures from The Pensions Regulator (TPR).
In a recent Declaration of Compliance report, the TPR said that approximately 6.5 million workers across the UK have now been automatically enrolled on a workplace pension scheme – more than 960,000 of whom work for ‘small and micro employers’.
Under revisions to rules for workplace pensions introduced earlier this year, auto-enrolment has been made a compulsory requirement for all employers – who will need to ensure that they are fully compliant before their staging dates.
Staging dates vary between businesses – and can be determined using each individual business’ PAYE reference number.
The Government expects businesses nationwide to have automatically enrolled all of their employees who earn £10,000 a year or more onto a company pension scheme by this date.
The latest filing dates fall into 2018 – but yours could be much sooner. Are you prepared?
At Moore Thompson, we can offer a wide range of auto-enrolment and payroll services. We can also offer expert advice to ensure your business is compliant, tax efficient and free from any potential complications or charges. For more information about our payroll services, please contact us.