Pensions Auto Enrolment
What is Pensions Auto Enrolment?
Organisations with one or more employees are now legally required to provide a workplace pension. The majority of businesses will have completed the exercise of enrolling eligible employee’s into these new pensions. Did you know that you have to complete this exercise every 3 years? This exercise is called re-enrolment.
What do I need to know?
When you are approaching the ‘staging’ date, you will need to assess all employees who have previously opted out of the pension you provide. If any of these employees qualify to be enrolled, then you will need to add them back into the pension scheme. You will then have to certify to the Government that you’ve completed this exercise accurately.
What help can I get with Pensions Auto Enrolment?
We will help match your legal requirements with a range of quality pension providers and can complete the process of automatic enrolment on your behalf. So whether you need help identifying who should be re-enrolled or whether you need to change your pension provider, we can help!
Are there any further increases to minimum pension contributions?
No. From April 2019, the minimum contribution rose to 8% (3% employer, 5% employee) but there are no further rises anticipated. You should be aware though that general guidance says 12% is the minimum level of contributions required to provide for a sustainable retirement. So if you are in a position to make additional contributions, this is a great message to give your employees.
Who are Cornerstone Resources?
Based in South Manchester, Cornerstone Resources offer a complete HR service to businesses, charities and churches. With over 40 years combined experience in HR, we can offer you an enviable combination of professional expertise and a service based on integrity and honesty. Best of all, we can save you time and money.
For more information on our offering, including cost effective Outsourced HR support, click here. For a no obligation quote, call Nicci today on 07908 875146 or Rob on 07494 161169. Alternatively, click the below button to email us and we will come back to you.
How we work
We will always complete our work to the best of our ability even if it costs us to do so.
We will be open and honest with you and will challenge a proposed course of action when we don’t believe it to be the best solution.
We will look to not just meet your immediate needs but to add long term value to your organisation.