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Count on us for Auto Enrolment

The pension auto-enrolment scheme requires all employers to have to automatically enrol eligible jobholders into a qualifying pension scheme. This could, for example, be an existing pension scheme if it meets the automatic enrolment criteria, or the new National Savings Trust (NEST).

This is a major change driven by the Government's pensions reform and it is being phased in through to 2018, ( the big employers have already 'gone live' with many more going 'live' each month). If you are an employer you will have to start preparing now.

This preparation includes understanding:

 Who and how many eligible workers you have.
 What counts as qualifying earnings.
 What level of contributions you will have to make and when - employers contributions will be phased but will rise to 3% of employees qualifying earnings by 2018. This is an additional expense which you will have to plan for.
 Timescales - you will be allocated a staging date which you can find out with you HMRC PATE reference.
 Whether you opt for your own scheme or a NEST.

There are key steps which an employer must plan and take forward:

 Know your staging dates.
 Nominate a point of contact with the HMRC and pensions regulator.
 Develop a plan which includes assessing your work force.
 Review your pension arrangements
 Communicate the changes to all workers.
 Automatically enrol eligible jobholders into a pension scheme.
 Process opt-out and opt-in requests.
 Register with the Pensions Regulator and maintain records - ongoing.
 Contribute to your workers' pensions

You will need new systems in place to ensure that once it is set up you continue to:

 Pay contributions.
 Process opt-out and opt-in requests.
 Continue to monitor ages and earnings of your employees.
 Assess new starters.

Contact COUNT to discuss how we can help you through this process.