If you are an employer and you want to learn more about pensions in your business – both about keeping up with your automatic enrolment duties, and also about how you can help to keep your staff protected from pension scams, then the information provided below will help.
Re-enrolment and Re-declaration - A two-stage process
Over the coming months hundreds of thousands of small employers will reach their re-enrolment deadlines. Make sure you know what you need to do. Whether or not you have staff that need to be put back into your workplace pension, you must complete and submit a redeclaration of compliance to The Pensions Regulator (TPR)
Tax Relief and Workplace Pensions
TPR reminds employers that there are two tax relief arrangements: RAS or NPA. They have useful information and examples on their website that will help you to decide which pension scheme to use.
Once you have set up a pension scheme and put your eligible staff into it, your legal duties don’t end there. All employers must continue to make the payments that are due into the scheme every time payroll is run. It is important you do this, as failure to make the correct payments is likely to lead to enforcement action by The Pensions Regulator (TPR). Don’t risk a fine
2. Pension Scams: Guidance on the Danger Signs of Pension Scams
(For employers to share with staff)
The Pensions Regulator is asking employers across the country to share important messages about the danger signs of pensions scams to look out for.
How can you help?
14th July 2020 @ 10am until 1130am
Your business is unique but the challenges you’ll face in business aren’t, we can help get you through them.
Our free and impartial support is delivered by experienced and expert business advisers, giving you the right advice at the right time for your business.
Contact us today to access a wealth of support, events, business growth programmes and expert advice.