Struggling with auto enrolment?
Auto Enrolment is a lawful requirement that is beneficial for employees in later life, but it can often bring a burden that weighs on the company’s shoulders.
The Government initiative is in place to help more people save money for later life, most notably through a pension scheme throughout their career until the time comes to retire from the world of work. Under the new laws, every employer in the UK will be required to help more of their workers save for retirement by contributing to an individual’s pension.
Structure your approach
The auto enrolment procedure can often become an extra administrative and compliance headache for employers that they may not have the skills, time or desire to carry out. We can help you with all your pension concerns with a structured approach to auto enrolment.
Save time & Money
Our attentive and friendly team are fully experienced and possess excellent industry knowledge to assist with you your business’ auto enrolment requirements.
We are able to give advice, provide cost effective services and save you time; allowing you to concentrate on areas of importance and do what you do best. In addition, we ensure employers meet their pension compliance responsibilities – leave it all to the experts at MCL Payroll.
What is Auto-Enrolment?
Auto-Enrolment is a government initiative and requires every employer of staff normally working in the UK to put their qualifying staff into a workplace pension scheme and to make contributions towards their employee’s pension.
How does Auto-Enrolment work?
Auto-Enrolment is a process that requires employees between the age of 22 and state pension age earns over £192per week/£833 per month, to be automatically enrolled into a pension scheme by their employer.
What happens if I am late in starting the scheme?
Different scenarios depend on how late an employer is when starting the scheme. Moreover, if it is less than 6 weeks, you can make a postponement of up to 3 months. Therefore you would not have to backdate any contributions.
On the other hand, if you are more than 6 weeks, then as an employer you will have to calculate and pay the backdated contributions. Depending on the Pension Regulations, either an employer or employee must pay back the contributions.
Can Auto-Enrolment affect our business even if we already have employees on a pension scheme?
Yes it can affect a business. In this situation, as an employer you will have to check that the scheme meets the Auto-Enrolment requirements. Such as the size of contributions you can make.
Doing the Numbers
Providing reliable Payroll services with readily available customer support.