Auto enrolment for pensions | Accountants Manchester

A recent survey by us here at DTE Payroll Outsourcing has shown that despite the process being underway, a lot of small and medium-sized businesses are still unaware of how to prepare for the Auto Enrolment Scheme.

On the 1^st of June thousands of companies, with fewer than 30 employees where drawn in to Their Auto Enrolment Schemes. However, a recent survey by us here at DTE Payroll Outsourcing has shown that despite the process being underway, a lot of small and medium-sized businesses are still unaware of how to prepare for the Auto Enrolment Scheme.

• 25% of the companies surveyed said they are still completely unaware of the changes taking place
• 67% said they are aware of the changes but have a lack of understanding of how to prepare for them

Because Auto Enrolment is such a lengthy process, The Pensions Regulator advises employers to allow up to 12 months preparation for staging and any company that fails to prepare could face fines of up to £500 per day.

Questions you need to ask yourself as a business:

• Do you know your staging date?
• Do you have a ‘qualifying’ scheme in place?
• How will you enrol your employees?
• What payroll software will you use and is it compliant?
• Do you have the internal resources to manage the process?

Your payroll software plays a significant role in the Auto Enrolment process and it needs to be able to deliver the information required. As part of our services here at DTE accountants Manchester, we can handle your payroll and have the correct software at our disposal to ensure all the data required by the employee, employer and the pension providers is provided.

If you’re looking for help with your payroll services, auto enrolment, or any other business services contact DTE Payroll.