New Year’s resolution to stay ahead of your paperwork?
Don't ignore the workplace pension. All employers have automatic enrolment duties and you should make sure you’re ready for your staging date, which is when you’ll need to put certain staff into a pension scheme. This applies to all employers – even if you have just one member of staff.
Use The Pensions Regulator’s duties checker to find out exactly what your duties are, what you’ll need to do, and by when.
Nobody to put into a pension scheme?
If you have no one to put into a pension scheme, you can bring your staging date forward to any date and declare your compliance at the same time.
Completing your declaration early means you can get this task out of the way and don’t need to think about it anymore.
Complete TPRs online Duties Checker to find out more about bringing your staging date forward
Missed your staging date?
Don’t stick your head in the sand – you need to take action NOW to avoid a fine.
The Pensions Regulator recognises that most employers will want to do the right thing for their staff and will work with you to enable you to comply with the legislation if you haven’t understood your duties or have been unable to comply. However, those who do not comply by their deadline risk a fine – the regulator will use their powers where necessary to ensure compliance.
If you are late complying or think you might be, you should tell The Pensions Regulator about it straight away.
To find out more, visit The Pensions Regulator’s web page: What happens if I don’t comply?
Declare your compliance at the same time that you re-enrol your staff. Why wait?
Every three years you must put certain members of staff back into an automatic enrolment pension scheme. This is called re-enrolment.
If you’ve chosen your re-enrolment date, then put a note in your diary to complete your re-declaration of compliance at the same time and tick both off your list in one fell swoop.
Go to www.tpr.gov.uk/re-enrolment
You can also follow @TPRgovuk and @The_FPB