TPR Picture

As 2016 approaches, many more companies will be required to activate their workplace pension schemes. If your employees earn more than £112 per week or £486 a month the employer must make a contribution if the employees are enrolled on your scheme. There is a large amount of administration involved in workplace pensions – all employees need to be informed by letter once the staging date has been reached. Your workforce needs to be assessed and broken down into three categories of workers i.e. eligible jobholders, non-eligible jobholders and entitled workers.
Part of the process involves the following :
• Providing information your chosen Pension Scheme about your eligible workers including name, gender, date of birth, automatic enrolment date, residential address and national insurance number
• Providing enrolment information to the eligible jobholders
• Arranging active membership for the eligible jobholders
• Processing opt-outs
• Processing cessation of contributions
• Providing non-eligible jobholders with statutory information relating to their rights in relation to pensions
• Ensuring registration with the Pensions Regulator is complete and providing required reports as required by law
• Keeping track of employees’ ages and earnings as some members of staff will move between the different categories of worker
• Ensuring that the correct percentage of the employees’ earnings is paid into the pension scheme
• Calculating the employers contribution and ensuring the relevant tax relief is processed correctly
• Uploading the file for each pay period to the pension provider in the format they require
• Sending out pension notices to employees online or via the employer