Quarterly Newsletter Spring 2017 | Page 3

The Government acted in 2012 to enforce pensions provision on employers because the pension time bomb was ticking as the workforce ages , and the capability of the country to support the retired is in question .

Who is affected by auto enrolment ?

What is known as auto-enrolment for workplace pensions is designed to increase the amount saved for people ’ s retirement . Previously a lot of people would opt out of company schemes ; and many smaller businesses did not provide a scheme .

According to the new auto-enrolment regulations , if you employ people you must enrol them before specific staging dates ( see below ). The only exception would be a director who does not have an employment contract .

SME Auto-enrolment deadlines

The ‘ staging dates ’ or deadlines began in 2012 and the last block of dates is imminent . Businesses with 1-10 . People in them must now prepare to comply ; and you can check when your staging date is by consulting the final 2 characters of your PAYE Reference Number

This Number is also referred to as an ERN ( Employer Reference Number ). HMRC issues this in the welcome pack when your business registers as an employer . See it also quoted in their letters to you .

This is composed of a 3-digit HMRC office code then a unique company number . Check this and then consult the following table :

FOR EXSISTING EMPLOYERS

Final 2 characters of PAYE / ERN : ‘ Staging Date ’

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