Pensions auto enrollment is now compulsory for most businesses. The only exception is where a business does not have qualifying staff however that’s a small minority.
- Registering with the Pensions Regulator
- Selecting a pension scheme approved by the Regulator
- Determining which of your staff need to be enrolled
- Writing to qualifying staff members to explain how the system works
- Declaring your compliance with the Pensions Regulator
- Handling the payroll deductions required
- Transferring pension money to HMRC at the correct time and for the correct amount.
Auto enrollment makes the already difficult business of managing payroll even harder. Your RCT accountant partner will handle the process for you.