13 Feb WorkPlace Pensions – dont forget your on going responsibilites.
WorkPlace Pensions: Don’t forget
Its easy to think that once you have set up your scheme that you have finished your duties but you must keep an eye on any changes. Some are obvious such as new staff, but others like pay increases or employees reaching a particular age mean you may have to review.
For example: If any of your employees turn 22 or if their qualifying earnings increase beyond £10,000 pa they are likely to become eligible for enrolment in your Work Place Pension Scheme. You will still need to carry out Workplace Pension assessment duties for this employee. If you are using payroll software it should automatically let you know when one of your employees turns 22.
If you are struggling with payroll and all the new rules and responsibilities then give us a call. We can manage your payroll and pension commitments for as little as £12.00* per month. Find out more here.
Contact us now to discuss how we can help you with choosing your pension scheme or supporting you with your ongoing Work Place Pension responsibilities including payroll.