A lot of employers with a small staff, me included, will not have spent much time worrying about auto enrolment yet as it all seems so far in the future. Today’s blog is meant as a bit of a wake up for us all:

  1. Every employer in the UK will be affected by auto enrolment, no matter the size of the work force or who it is we are employing;
  2. Don’t imagine for one minute that because your only employee is your wife/husband that you are excluded from the legislation you aren’t as even those only paying a salary to their spouse will need to consider their situation.
  3. Ah you are thinking I am fine because I don’t have any employees who want to be in the scheme – think again my friends. Employers with no-one in the pension scheme do not escape as they will still need to perform some administrative tasks for each and every pay period.
  4. Those of you with limited storage space will now have another problem as the records for the scheme have to be kept for a minimum of 6 years – again even if you have no-one enrolled in the scheme.
  5. There are pre-set deadlines by which time we all have to be ready. These deadlines are already established and are based on the number of employees you had in April 2012.
  6. It is imperative that you check your deadline as we all have to be ‘compliant’ by that date and this ‘compliance’ can include having a pension scheme in place that is at a stage to accept employees.
  7. You underestimate the amount of work required at your peril and I read recently that the recommendation is that you start to prepareĀ  6 – 9 months ahead of your deadline.
  8. If you don’t get this right that you can expect a fine or even imprisonment for persistent non-compliance.

Happy days my friends!

Leave a Reply

Your email address will not be published. Required fields are marked *