Your short guide to Auto Enrolment

Your short guide to Auto Enrolment…

Know your

staging date

This depends on the size of your business…

250+ Employees 50-249 Employees 1-49 Employees New Business

Oct 2012 – Feb 2014

April 2014 – April 2015

June 2015 – April 2017

May 2017 – Feb 2018

You can find your exact staging date on the Pensions Regulator website, www.thepensionsregulator.gov.uk

Assess your

employees

You will need to split your employees into:

Eligible Jobholders • Aged 22 to State Pension age • Earning from

£10,000

Non-eligible Jobholders • Age 16 to 22 or

State Pension age to 75

• Earning between £5,772 - £10,000

Entitled Workers • Aged 16 – 75 • Earning up to

£5,772

You must continually assess your employees every pay period…

Provide a qualifying Pension Scheme

Your scheme must automatically enrol eligible jobholders…

• Ensure any employee can join

• Allow jobholders to opt out

• Provide minimum contributions

And your scheme must:

Inform your

workforce

You must inform your employees in writing about Auto Enrolment

• How Auto Enrolment affects them

• How they can opt-out

• How they can opt-in

Including:

Enrol eligible jobholders

You need to provide employee details to your Pension Provider and ensure they are active members of your scheme

• Name • Gender • Date of birth • Auto Enrolment date • Home address • NI number

• Postal work address • Work email address • Personal email address (if known) • Qualifying earnings • Both employee and employer contributions

Maintain records

You’ll need to register with the Pensions Regulator and maintain records for at least 6 years

Contribute to your workers’ pensions

The total minimum contribution starts at 2%

2% contribution 5% contribution 8% contribution

Oct 2012 – Sept 2017

Oct 2017 – Sept 2018

Oct 2018 onwards

Auto Enrolment can be complex.

But there’s an easier way…

103 man days to prepare

33 new employer

tasks Average set up cost of

£8,900 for <100 ee’s

…5 easy clicks to Auto Enrolment

Visit us

moorepay.co.uk