Legal obligations have now been met by a majority of employers. But you may not be aware of the ongoing regulatory duties which are crucial to the process.
Will you be audited?
In March 2017, TPR announced that it would conduct ‘spot checks’ on employers across the UK.
It has since sent audit meeting requests to businesses in London, Greater Manchester, Sheffield, Birmingham, Edinburgh, Glasgow and South Wales. We can expect TPR to continue directing resources towards auditing and reviewing employers that have already staged for auto enrolment, to make sure they are complying with their workplace pension duties.
How to ensure a successful audit
- Carried out and documented due diligence when workplace pension scheme was implemented
- Have a pension scheme that is still fit for purpose – have you reviewed charges, investment performance and employee support capability?
- Communicate with your employees. TPR may request an audience with them
- Audit the contributions that are calculated and paid to the pension provider each month>
- Have auto enrolled all eligible employees
- Have a process in place for new employees
- Have a process in place to satisfy the re-enrolment requirements
- Have key decision makers within your organisation dedicated to ensuring compliance is met
“Pay-Assist manage our payroll needs and deal directly with our Pension Provider for the Auto-Enrolment scheme. They’re always prompt, professional and efficient. I cannot recommend them highly enough.”
Are you one of the following?
- An employer who uses other pension advisers or self manage the workplace pension
- An employer who does not have a scheme in place
- An employer who staged in 2015 who have re-enrolment due in 2018
- A local business
- An employer who want to offer attractive pension packages to aid recruitment
- An employer with Private Medical Insurance schemes
What can we do to help?
Schedule a FREE consultation
Why not enquire about a free consultation with us and let us review if you have the correct scheme in place for your staff.