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Auto enrolment is part of the legislation changes that get employees to subscribe to a pension scheme. From October last year large companies had to auto enroll all employees into a pension scheme by law. This process seems daunting but it’s very easily managed with the click of a button from our online PAYE system called Netpayroll.
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NETPAYROLL
AUTO ENROLMENT & PAYROLL MADE EASY
What does pension auto-enrolment mean for
small businesses and employers?
Mark Hill
Director
Netpayroll.co.ukSeptember 2014
Do you remember this?
Netpayroll
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Advisors
Employees Employers
Employers are likely to ask for help to choose and run a good quality pension scheme. NetPayroll is linking up to all the main pension providers for Auto Enrolment giving the Employer the flexibility of choice whilst maintaining the efficiency of processing Auto Enrolment directly from their payroll software.
The Government wants to encourage all workers to save for
their retirement. From 2012, all employers, starting with the largest
employers first, must enrol their eligible workers into a workplace
pension, if they are not already.
All employers are legally required to automatically enrol certain staff into a pension scheme and make contributions. You will also have to tell your staff about the scheme you put them in and allow other staff to join if they request to do so.
Auto-Enrolment affects everybody.
Automatic enrolment means that, rather than having to actively choose to join a pension scheme, staff are put into one by their employer as a matter of course. If they don’t want to be in the pension scheme, they must actively choose to opt out. It’s to encourage people to stay in pension saving.
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Workplace PensionE m p l o y e e p a y s i n
E m p l o y e r p a y s i n
If you are employed you may be offeredmembership of your employer'sworkplace pension scheme. It is likelythat you will need to pay contributionsand these will be deducted from yoursalary and paid into the scheme by youremployer. Your employer is likely tocontribute to the scheme too, to add toyour savings. The contributions areinvested until you retire.
If you have an existing scheme for yourworkforce (perhaps called a ‘stakeholderscheme’) you should check with yourpension provider to see if you can use itfor automatic enrolment. If you need toopen a new scheme, make sure youapproach a pension provider in goodtime because they will be taking onthousands of employers in the comingmonths. Don’t leave it too late.
What does this mean for your business?
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What is happening with pensions?
The law on workplace pensions has changed. Allemployers are legally required to automaticallyenrol certain staff into a pension scheme andmake contributions. You will also have to tellyour staff about the scheme you put them in andallow other staff to join if they request to do so.
“You pay in, your employee pays in.“
Employee
Government
1, 2 or 3% contribution
2, 5 or 8% contribution
100% employee tax relief
Employer
Netpayroll
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“Auto enrolment is part of the legislation changes that getemployees to subscribe to a pension scheme. From Octoberlast year large companies had to auto enroll all employees intoa pension scheme by law. This process seems daunting but it’svery easily managed with the click of a button from our onlinePAYE system called Netpayroll.”
Here’s what you need to know now.
MARK HILL
01
02
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Small businesses are being enrolled during the 2015/2016 and2016/2017 tax year.
Employers have to pay 1%, 2% or 3% respectively over 3 years.
Deductions are made via Payroll and reported separately to thepension provider.
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Check your Staging Date
Designate a responsible point of contact
Work out who is eligible
Notify your employees
Confirm enrolment or opt out
Manage contributions via PAYE
One click to report the details to pension provider
Netpayrollwill manage this process
for you.
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Risk of £500 per day penalty
The administrative burden on a small
business
The expense of other software
systems
Issues for SMEs
People are living longer yet too many people are under-saving or not saving at all for what could be a long retirement. The law on workplace pensions has changed to make it easier for millions more people to build up a pension, particularly those on lower incomes.
Preparing a plan with staging dates
Manage pension deductions via PAYE
Using a self service online application
Netpayroll
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RTI compliant PAYE management system
No setup fee and works out of the box
Add employee information easily
No complicated software to install
Ready for Auto-Enrolment correspondence and
contributions
Send data to HMRC or pensions provider
Securely hosted and accessed online
Employees can download their payslips
Sign up for Netpayroll.
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NETPAYROLL: 1. Choose your pension provider
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NETPAYROLL: 2. Enter Pension Details
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NETPAYROLL: 3. Choose your Pension Reports
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NETPAYROLL: 4. Download your Pension Reports
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Coming Soon: Netpayroll for Mobile
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£5 per month
£30 per month
Packages
Self Service
For administrators
Managed Service
For small business owners
1. Managed service covers the first 8 employees and there is an additional charge of £3.25 per employee per payroll run for payrolls greater than 8 employees.
2. There is a year end P60 processing charge of £3 for each employee processed during the year
£7.50 per month
£50 per month
Self Service
For administrators
Managed Service
For small business owners
PRE-STAGING DATE POST-STAGING DATE
1. Managed service covers the first 8 employees and there is an additional charge of £6.25 per employee per payroll run for payrolls greater than 8 employees.
2. There is a year end P60 processing charge of £3 for each employee processed during the year
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Call the NetPayroll team for helpful, professional advice
01483 608850
http://www.netpayroll.co.uk
Sign up for a free trial or call us
for professional, helpful advice
about managing auto-enrolment.
Netpayroll.co.uk Ltd
3a Oriental Road,
Woking, Surrey,
GU22 7AH. UK.
Netpayroll
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Get a free trial or consultation today.
www.netpayroll.co.uk/free-trial
Mark Hill
Managing Director
Netpayroll.co.uk Ltd
