Automatic Enrolment is compulsory for ALL employers..... But you still have a choice
Do it yourself
OR Let Chevening Financial do it for you!
Before your staging date:
Establish what information and data is required
Communicate ‘Auto Enrolment’ to all employees
Access your own workforce
Confirm your staging date
Establish eligible jobholders
Establish non eligible Jobholders
Establish entitled workers
Decide on what contribution levels and definitions?
(Varies between 7-9% of salary)
Do you need to use postponement?
Will you use existing scheme or will you need to research a new one?
Do you choose and offer one default investment fund for all employees?
Manage your interaction with HR and Payroll on a monthly basis
Check HR issues, review contracts for compliance with legislation
Staging date Arrives:
General letter to all members of staff
Separate letter needed for each classification
Have a robust pension policy for opt out process and ensure it is published
Enroll all appropriate jobholders
Manage opt out process
After staging date:
Check pension is registered correctly
Maintain all records
On going checks for compliance with legislation
Note: The Financial Conduct Authority does not regulate some forms of auto-enrolment.
Work out what needs doing for your firm and when
Identify the options open to you in good time
Put the choices in front of you in a clear and simple way
Help you pick which option suits your firm best
Help you implement and launch
Provide you with as much assistance as you require to meet every obligation under the rules, initially and in the future
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