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Pension services

WorkieWorkplace Pensions & Automatic Enrolment

The law for workplace pensions has changed and since 1st April 2012 this has been rolling out gradually to existing employers before the 30th September 2017 by virtue of a ‘Staging Date’, the date in which an employer must start their legal duties to comply with the new workplace pension rules.  The last possible staging date to be issued to this group of employers is 1st February 2018.  After the 1st October 2017, new employers will have an immediate duty from their first employee’s start date to comply, known as the ‘Duty Date’.

This means that any employer with one or more staff has duties to comply with that starts on their given staging date or duty date.  Including automatically enrolling those who are ‘eligible’ into a workplace pension scheme and contributing towards it.

It is called ‘automatic enrolment’ because it is automatic for staff – they don’t have to do anything to be enrolled into a pension scheme, but it is not automatic for employers!

For existing employers looking for a complete payroll and pension management solution, we certainly can help.  We will work with most major pension providers and as part or full management undertake the following tasks: –

  • Jobholder assessments
  • Data transfers & communications from pension provider*
  • Opt-out refunds
  • Opt-in requests
  • Contribution calculations
  • Staging date or duty date postponement
  • Jobholder postponement
  • Jobholder communications
  • Member data transfers to pension provider
  • Contributions data transfers to pension provider
  • 3 yearly re-enrolment processes
  • The Pension Regulators (TPR) – Declaration of Compliance
  • TPR – Communications

* Pre-approved list of Pension Providers we administer for full management: NEST Pensions, The Peoples Pension, AVIVA, Legal & General, Smart Pensions, NOW: Pensions (Gateway), Royal London, Scottish Widows.  If your pension provider is not on the pre-approved list it doesn’t mean we cannot assist, please call us to find out if your pension provider is known to us and what areas of the scheme we can support (e.g. Aegon, Zurich, Friends Life, Standard Life, Blue Sky, Welplan etc).

For new employers choosing a pension, setting it up and running the pension scheme can be a daunting prospect.   Certain ongoing duties should be done in conjunction with payroll, which is why it makes perfect sense for payroll departments or outsourced payroll providers to manage the pension processes alongside payroll.

If you are a new employer or looking at hiring your first member of staff, it is best to be prepared as your duties will apply from your employee’s start date (as from the 1st October 2017).  At Biznus Payroll although we cannot provide financial advice on pension scheme selection and in-depth due diligence on a scheme suitability and durability.  We do provide access to 5 main workplace pension providers directly including the much coveted Legal & General Worksave pension scheme which is only available via specific software, but it will be your responsible to research and undertake due-diligence to which of these schemes is suitable for your business.

If you want a little more support and hand holding in selecting a suitable workplace pension then we have contacts with 3rd party advisers specialising in workplace pensions with fees starting as low as £450 +VAT providing a telephone consultations, due-diligence report with a selection of suitable pension schemes specific to your criteria from a comprehensive list of qualifying pension schemes on the market, just ask us for details.

Another alternative we offer our clients is Pension Playpen, an online pension scheme selection tool, available at a discount price to new employers only of £99 +VAT with our unique client discount code (reduced from £199 +VAT).  If this is of interest to you please ask your payroll account manager for more details.

If you would like to find out more about our payroll and pension services or request a quotation then give us a call on 01373 228300 or email info@biznuspayroll.co.uk.

Useful External Links:

https://www.gov.uk/workplace-pensions-employers

https://www.pensionplaypen.com

Useful Internal Links:

http://www.biznuspayroll.co.uk/category/pensions/

Payroll services

Our expert payroll team will tailor our payroll service to suit your business needs. We will:
• Process PAYE Income Tax and National Insurance
• Provide your staff with payslips
• Deal with HMRC
• Process starters and leavers including P45s
• Produce P60 statements
• Work out sick pay and annual leave

Payroll advice bank

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Workplace pension services

Every employer needs to have a pension scheme in place. We can help you to choose and set up a suitable scheme. We will:
• Assess your workers
• Set up your pension scheme
• Calculate employee and employer contributions
• Carry out ongoing assessment of your workers
• Submit a Declaration of Compliance

Workplace pensions advice bank

Find out more