A new re-enrolment tool has been launched online by The Pensions Regulator (TPR).
This timely introduction will be a welcome option for many small and micro employers approaching their three-year anniversary of their staging date for re-enrolment.
Director of Automatic Enrolment Darren Ryder said: “Re-enrolment gives staff who opted out of their workplace pension a fresh chance to start saving so it’s an important task.
“Automatic enrolment has led to millions of new savers and we want to ensure this success continues. Our online re-enrolment tool will help employers continue to meet their legal duties so that staff continue to have the opportunity to save.”
The new tool is designed to help simplify the re-declaration of compliance process for many employers and is a further measure towards reducing administrative burdens for employers.
All employers must ensure that they fulfil their legal duties to assess and enrol all eligible staff into a workplace pension. Failure to do so could result in fines.
During re-enrolment, those staff who have opted out must be assessed and action taken to re-enrol them where eligible. The re-declaration of compliance must be submitted within five months of the third anniversary of your auto enrolment staging date even if you choose a different date to assess your workers.
Employers who have no staff to enrol must also complete the re-declaration of compliance to confirm that they have fulfilled their assessment duties.
Statistics from TPR show that so far, more than 176,000 employers have completed their re-declaration of compliance.
Research also showed the support that business advisers provide in helping employers meet their duties, details of which can be found in the following survey: Adviser Engagement with Automatic Enrolment Survey 2019 (PDF, 1306KB , 32 pages) it shows more than 92% of accountants, payroll administrators and book keepers and 62% of IFAs advisers assist their small business clients with automatic enrolment.
