Chichester Bookkeeper

Call : 01243 201 401
Email :
B for Bookkeeping
“Enabling you to do what you do best”

Don't be late in starting the registration process, or the Regulator Monster will come knocking and fine you!

What does Auto Enrolment mean for your business?

You must set up a company pension scheme for your employees and pay into it when you get a pension staging date from the Pension Regulator.

Contract your payroll provider as getting the pension set up and the employees assessment will take time!

The regulator as powered to fine you if you don’t; set up the pension in time, mange it correctly each month and don’t pay the contributions on time.  The fines can be large and are per employee.

Both you as the employer and your employees will be contributing into the Pension.

The amount you pay is regulated by the pension regulator.

Below are the latest dates and rates the employer and employee must pay.  The contribution rate increase over time.

Up to Employer minimum Employee minimum
5th April 2018 1% 1%
5th April 2019 2% 2%
From the 6th April 2019 3% 5%

Every employer running PAYE must put certain staff into a company pension scheme and you need to contribute towards it.

To get the ball rolling you must select a pension provider, e.g. NOW and set your scheme up.  Once running all employees are assessment for eligibility to be added to the pension scheme.  This has to be done on every pay run.

 

How employees are added to the pension is based on their earnings and age.

If your Employee earns over £10,000 and between 22 and state pension age they are automatically be enrolled and you must contribute to their pension.

If they earn £5,824 but less than the £10,000 they are not enrolled automatically but they can choose to “Opt In” too the pension and you will also they have to contribute to the pension.

If you employee earns less that the £5,824, they can Opt in too, and its up to you whether you contribute as well to their pension.

Employees can choose to Opt out if they wish but will automatically re-enrolled every 3 years if they are entitled workers.

Pension Regulator Information

What you need to do to comply with the regulator - Duties Checker

This will give you your staging date, this is when you pension must start to avoid any fines.

You will need your Letter code; the Pension Regulator will send it to you 6 months in advance. 

If you can find the code click her to get it.

To be compliant with the regulations there is lot to do in setting up the pension and then running it. 

We can help you and take over the burden of setting the pension up.  The cost of setting up your Auto enrolment pension starts at £99.00.

We can migrate your payroll over to us to ensure they are sink.  Our payroll software works with all the leading pension providers and monthly payroll starts at £25.00 per month.

Pension Providers

There are several providers offer Auto Enrolment pensions.

We sure NEST and NOW.

We are happy to discuss which provider would be the best for you.

Your pension will be regulated by The Pension Regulator.

 

Cloud Bookkeepers and Accountants since 2009!

 

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B4Bookkeeping Ltd

Tel : 01243 201 401

  3 Lincoln House, Chichester Fields, Tangmere, Chichester, West Sussex, PO20 2FS
Company Reg Number : 9151684. VAT Reg Number: 192 380 988. MLR Reg : 12847995

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