Are you exempt from auto enrolment?
Auto enrolment is quickly becoming reality for all businesses, with scheduled staging dates to ensure that all businesses are enrolled by early 2018.
Auto enrolment is a complex matter, with lots of different options to consider and be aware of. If your company employs one person or one hundred persons you are still legally required to put a workplace pension scheme in place. However, if your business comprises only of Directors you are not legally required to operate a pension scheme.
You are exempt from auto enrolment if the only people working for you are:
- you as the sole director;
- a number of directors, none of whom has an employment contract; or
- a number of directors, only one of whom has an employment contract.
Automatic enrolment will apply if more than one director has an employment contract. In that case, the company will owe auto-enrolment duties to those directors who have employment contracts.
To deliver a complete auto enrolment service our Payroll team work closely with Susan Andrews, Employee Benefits Consultant at G+E Wealth Management. Therefore if you have any questions on auto enrolment please contact Susan on: 01904 464100 or firstname.lastname@example.org.