Pensions And Automatic Enrolment

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Pensions And Automatic Enrolment

The UK pensions law has undergone significant changes, making it mandatory for all businesses and organisations to support their employees in saving for retirement. To comply with the new regulations, employers must familiarise themselves with Pensions Automatic Enrolment and take specific actions. ClearPayroll offers comprehensive solutions that seamlessly integrate the auto enrolment process with payroll processing, ensuring efficient administration and cost savings.

Real Payroll Services for You

Assessing your workforce

Understand the composition of your workforce to determine which employees are eligible for automatic enrolment into a pension scheme.

Reviewing pension arrangements

Evaluate your existing pension arrangements and ensure they meet the requirements of the new law. Consider updating or modifying them, if necessary.

Communicating with workers

Maintain open communication with all your employees to inform them about the changes in pension provisions. Explain their rights and responsibilities and address any concerns or questions they may have.

Automatic enrolment

Identify eligible workers and enroll them automatically into a suitable pension scheme. Currently we are mainly processing using NEST, Peoples Pension, NOW:Pensions and Smart Pensions. Both the employer and employee are required to contribute towards the pension fund.

Registering with The Pensions Regulator

Fulfill your legal obligations by registering with The Pensions Regulator, ensuring compliance with reporting and disclosure requirements.

Record-keeping

Maintain accurate and up-to-date records of all pension-related information, including employee details, contributions, and scheme information.

Making contributions

Regularly contribute to your workers' pensions as required by the new law. These contributions will contribute to their retirement savings.

Integration with Payroll Processing

To streamline the administrative process and minimise costs, it is recommended to carry out the auto enrolment process alongside payroll processing.

Expert Advice from ClearPayroll

The ClearPayroll team possesses extensive knowledge and experience in Pensions Automatic Enrolment. They can guide you through the setup process and provide you with various pension scheme options, ie NEST, Peoples Pension, NOW:Pensions and Smart Pensions. Trust ClearPayroll to ensure a smooth transition and efficient compliance with the new pensions law.