Why Are Pumped Business Solutions Offering An Auto Enrolment Scheme?
From October 2012 Automatic enrolment was introduced as a law by the Government.
This law is designed to help people save for retirement.. This change affects every organisation with an employer PAYE scheme. For more information on the Auto Enrolment scheme, visit The Pensions Regulator website.
PBS are passionate about providing ‘On Trade’ employers with a simple, easy to apply and fully compliant Auto Enrolment option.
Our team has a wealth of ‘On Trade’ experience and can talk your language. Our Auto Enrolment Solution is specifically designed for on trade businesses who need to enrol quickly and do not wish to pay huge amounts in both fines and/or set up fees. Our partners are vastly experienced in the Pension world and are fully compliant with TPS requirements. On completing your application through PBS, the team will take you through every stage of the Auto Enrolment, offering clear and easy to understand advice, something very few operators do.
All employers must have an auto enrolment scheme in place before their staging date.
To comply with The Pension Regulator all employees with a PAYE scheme must assess their employees and then Auto enrol into a pre qualified WPS (workplace Pension Scheme) From there on both employers and employees are required to make specific and minimum contributions to the scheme by law, as set out by the ‘The Pensions Regulator’.
The phase-in of auto enrolment began in October 2012 with all organisations required to be on board by February 2018.
Auto enrolment places significant responsibilities on employers, with penalties for those who fail to comply.
It is advisable for businesses to find out as soon as possible when their staging date is and allow at least 18 months prior to this date to plan for implementation.