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Are you ready for Auto Enrolment?

What is it?

Auto Enrolment is a set of duties to make sure all eligible employees automatically become members of a qualifying pension scheme with a high enough level of contributions.

This means new responsibilities for the employer such as:

Workforce assessment

  • Provision and Auto Enrolment into a qualifying scheme
  • Facilitating opting out and refunds
  • Record-keeping

Why is the Department for Work and Pensions introducing Auto Enrolment?

  • The Government estimates about seven million people are not saving at all for retirement, or not saving enough.
  • Life expectancy is increasing - people will live longer in retirement and the size of their pension fund needs to be greater to fund this.
  • The Government may not be able to afford to keep state pensions at their current level in the longer term.

Time Frames

Some important time frames and key dates;

  • Any employer with a PAYE scheme registered before 1st April 2012 will have enrolled their staff by April 2017
  • Any employer with a PAYE scheme registered from 1st April 2012 will have enrolled their staff by February 2018 

Auto Enrolment: We’ve got it covered

Sage has provided easy to use software for over 30 years, consistently meeting the stringent standard set out by legislation and the needs of our customers.

Sage is working very closely with The Pension Regulator, investing significant resource to ensure their payroll and HR solutions are ready to provide our customers with a smooth transition into Auto Enrolment, guaranteeing compliance now and in the future.

Whatever size or type of business you run, there’s Sage Payroll software for you!

Sage is a trusted brand for customers seeking Payroll advice with over 500,000 employers in the UK choosing Sage Payroll software to pay over 7.6 million employees.

Please contact us today to find out more about how Auto Enrolment may affect your business and to request your FREE Expert Guide to Auto Enrolment.

Posted on Feb 20, 2014 - 04:59 PM
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