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Employers Requirements

If you think you’ll have one or more Eligible Workers when your Auto-Enrolment duty begins, you will have to:-
 

  • Auto-Enrol each and every one of your Eligible Workers to a qualifying pension scheme
     
  • Deduct payments from employer and employee and pay across to the pension provider
     
  • Provide information to the Eligible and Non Eligible job holders
     
  • Process employees who opt out
     
  • Make refunds (within certain time scales)
     
  • Keep records
     
  • Re-enrol opt out process every 3 years.  Individuals can opt out but employers face financial penalties if they induce this.
     

Even if you already have a suitable qualifying scheme in place you will have to register with the Pensions Regulator to show you have met your auto-enrolment duties.
 

A qualifying pensions scheme does not have to be NEST.  It can be any scheme that meets certain minimum conditions.
 

To help you get a better understanding of the Employer Duties Legislation please review our website or contact our Financial Services Department on 01473 408422 or ifa@wmibl.co.uk
 

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