Workplace Pension Penalties Issued

The workplace pension scheme is here to stay.  It is not anything like other schemes that have been half-heartedly introduced in days gone by.

It is compulsory.  Every employee must be placed in a workplace pension scheme.  This is why it is known as Auto-Enrolment.  If employees wish to opt out, they must do so themselves and employers who try to encourage their employees to opt out face stiff penalties, maybe years down the line, long after the employee has left the business.

It is here.  Large and medium sized businesses are already in the scheme, and the first penalties have been issued for those who have not complied.

Small businesses are being enrolled now and some are finding that lack of preparation for the event has caused major headaches, which could lead to financial penalties.

Pension providers estimate that you should be preparing for your staging date at least six months ahead and preferably sooner.

Don’t leave it to the last minute to make your business ready.

The Pay Pod can make this easy for you.  We have the experts on board to guide you through the process and, with your permission, contact your employees to advise them fully about the scheme on your behalf.  Once in the scheme, The Pay Pod will continue to keep your employees up to date and manage your payroll for you, setting you free to manage your business.

Don’t let Auto-Enrolment into the workplace pension scheme become a headache, or worse destroy your business.

Contact us now and let us make Auto-Enrolment easy for you.

 

The Pay Pod can manage your payroll and auto-enrolment allowing you to manage your business.

For further information and friendly advice, contact us today.

By | 2016-02-05T10:17:36+00:00 February 2nd, 2015|Pension Scheme|0 Comments

About the Author:

Tim Evans
Tim Evans is a Fellow Member of the Association of Accounting Technicians, a practising Accountant and Director of The Pay Pod Limited.