Pension Re-enrolment is coming!
As the majority of employers have now auto enrolled, many more are at the stage where they must re-enrol.
Re-enrolment must be carried out three years after the original auto-enrolment date. Depending if you have staff to re-enrol or if you have no staff to re-enrol your duties will vary. However, either way you will need to complete a re-declaration of compliance.
Re-enrolment carries lots of administration requirements. Often small businesses can find this a challenge especially if they are new to pensions.
Compliance is a must and you may need to examine your infrastructure both in terms IT and the human resource needed to ensure compliance of the administration. The correct IT software will help you monitor who is eligible for re-enrolment.
There are no exceptions and you must comply with re-enrolment rules, continuous timely administration will help you avoid any potential fines for non compliance.
Further information can be found on the pension regulator website.
Please contact our payroll team at email@example.com if you need any further assistance.