Are you an employer with fewer than 50 employees?
Do you know your Auto Enrolment obligations?
If the answer is no, you are not alone. Whatever the size of your business, you will soon have to comply with Government regulations which mean you must have a pension Scheme in place and contribute to it for your employees (if they meet certain eligibility criteria e.g. earn over £10,000 a year).
If your company has never operated a pension scheme before, it can be a daunting exercise – and you will have to budget for it.
The key message from the Department of Work & Pensions’ new advertising campaign is Don’t Ignore It.
The Workplace Pension is here to stay and if you are an employer, you are obliged to comply with the requirements – or face enforcement action.
Cambrian are experts in Auto Enrolment advice – and we can help you meet your requirements.
We recently helped one local firm in North Wales meet their Auto Enrolment obligations at the last minute.
The firm came to us in September this year – their Auto Enrolment staging date was 1st October. They had not done any preparation for Auto Enrolment.
Thankfully Cambrian were on hand to help. We knew it would be a difficult challenge given the timescales (we typically ask firms to approach us 6-12 months before their Staging Date) but we were able to assess their workforce, and identify and set up a suitable Scheme which met all their requirements at the 11th hour, thanks to the strength of our research capabilities and connections with Auto Enrolment providers.
They now have a Scheme in place and have been able to meet all of their Auto Enrolment requirements in time, and we are now looking forward to working with them and their employees on an ongoing basis.
If you’ve already had a letter from the Pensions Regulator, this will include your “Staging Date” on it. This is the date by which your pension Scheme must be in place. Don’t ignore it!
Not yet had a letter from the Pensions Regulator? We can help you determine your Staging Date.
The sooner you approach us and start to plan for it, the better. As providers will be receiving thousands of applications from employers, there is no guarantee if you leave it until the last minute that they will have the capacity to process your application.
Contact us today on 01244 526348 to arrange an Auto Enrolment consultation meeting with our specialist John Brown.