A big fuss has been made in the past few years about the introduction of auto-enrolment for businesses.
The basic aim of this new law is to get more people to save for their retirement. This will be achieved by enrolling workers aged 22 and over, and earning more than £9,440 a year, into a pension scheme with their employer making contributions too.
Over 500,000 small and micro businesses are expecting to reach the stage when they need to start a pension scheme for their employees this year, and many pension providers have floated schemes to get businesses to enrol their workers.
The good news for Bradleys’ clients is that there is nothing to worry about. We have made good progress with our auto-enrolment solution and are geared up to provide all the compliance and administration you need to run your payroll. This applies to all our clients – whether you are a hairdresser, an architect or a construction company.
The Pensions Regulator will send letters 12 months ahead of the staging date. For our clients who have arranged for us to look after their auto-enrolment compliance duties, we will take care of everything except identifying the actual payroll provider – which we cannot do as we are not financial advisors.
As always with Bradleys, we make things as easy as possible for our clients. If you have any questions about auto-enrolment or payroll in general, please feel free to get in touch with us.