Auto Enrolment: Are You Ready?

Mind the capacity gap

Almost 30,000 UK employers need to take action to comply with Pension Auto Enrolment by July 2014. Short timescales for implementation and a lack of capacity in the Corporate Pensions market could put significant pressure on your business if you do not act in time.

Key considerations

Your legal responsibilities include:

1. Scheme selection and setup – do not assume your existing scheme (if you have one) will accept additional members. Many are requiring significant changes or will decline to accept auto enrolled members

1. Worker assessment – every time your payroll is run, workers must be assessed and categorised. Internal processes will need to be adjusted and your payroll provider engaged in the strategy.