What must employers do?
Employers with more than one employee have to enrol certain workers automatically in to a Qualifying Workplace Pension Scheme (QWPS) by a certain date, depending on the size of their workforce.Employers with the largest numbers of employees have had to do this since 1st October 2012.
The actual dates for other employers will depend on their Staging Dates, which in turn will depend on the size of the Employer’s largest payroll.
You will need to:
- Know and understand your ‘Staging Date’
- Assess workforce to determine ‘Eligible Jobholders’, ‘Non-eligible Jobholders’ and ‘Entitled Workers’
- Set up and contribute in to a QWPS
- Ensure Scheme meets new quality standards
- Understand who needs to be enrolled and when. All eligible workers must be offered your QWPS, including temporary and permanent workers
- Automatically enrol certain employees in to your QWPS
- Invite other types of workers to join your QWPS
- Monitor age and earnings regularly as workers can move between different categories
- Continue to automatically enrol certain workers in to your QWPS
- Run an opt in / joining process for other workers
- Register with The Pensions Regulator within four months of your Staging Date
- Certify every 18 months that the contributions to your Scheme will meet the quality requirements.
- Re-register with The Pensions Regulator every three years
- Ensure that correct communication is provided to workers within correct timescales. This is essential at all stages
- Keep various records. This is essential, to prove compliance with your Employer Duties
- Keep records of workers opting out / in to your QWPS
- Process refunds and re-enrol workers every three years
- Ensure correct payments are made for employees
- Engage with Payroll Providers
- Refund contributions for opt outs within set timescales