Compliant Workplace Auto Enrolment Business Pension Solution

Confused about Workplace Pensions? Does it apply to your business & how much will it cost?

We make no excuse for our direct approach Please accept our apology if you feel we come across very direct. We don’t pull any punches when it comes to potential Government Fines on Small Businesses We feel it is important to keep out the waffle and get straight to the point unlike DWP…

Workplace Pensions – Don’t Ignore It Awareness DWP Media Campaign We have no comment about our fluffy friend!!!

Why The Need for State Pension Reforms Funded by National Insurance contributions taken today Default increased retirement age Demographics (one in four 16 year olds will attain the age of 100) Advances in Medical Science, were simply living far longer in retirement   People at working age Pensioners 1901            2010    2050  

The Background The Pensions Act 2008 – Statutory Obligations April 1st 2012 – HMRC Real Time Information initiative Pre-cursor to Auto Enrolment – digital payroll Large Businesses ‘all in’ and Medium sized have already staged Now it’s the Small SME’s & Micro Businesses staging dates from 1st June 2015 to December 2017 – 1.8 Million Businesses Your staging date based upon HMRC info as at 1st April 2012

This Means Your Business Must be a Workplace Business

Auto Enrolment What is it? Legislation under the Pensions Act 2008 300 pages of Regulations 854 Rules to be complied with 2 Legislative documents Statutory obligation on ALL Employers Provision of Workplace Pensions to ALL Employees Employers MUST contribute for eligible employees Transferring the responsibility of funding retirement from the State to the individual & employer plus help from the Government [tax relief]

Ultimately the business owner is legally responsible. Your Staging Date ACT NOW Ultimately the business owner is legally responsible. It is you who will receive the FINES Fines and/or Prosecution

What You MUST Do!  Know your Staging Date – What have you done with your staging letter?  Complete a workforce assessment  Communicate changes, options and implications to each employee  Be compliant by your Staging Date or incur daily escalating fines  By your Staging Date Auto Enrol all eligible employees & invited workers  Register with The Pensions Regulator & keep records [possible inspection]  Ensure compliance with Regulations including communications audit trail  Manage Opt-in’s, Opt-out’s, starters & leavers, eligibility & entitled  Re-enrol employees & opted out every third anniversary

Workforce Assessment-Criteria The Different Types of Worker Earning/Age 16 – 21 22 – Stage Pension Age Stage Pension Age – 75 Under lower qualifying earnings threshold (£5,824) Entitled Worker More than £5,824 and up to £10,000 Non-Eligible Jobholder Over auto enrolment earning trigger £10,000 Eligible Jobholder Optional Invite You don’t have to pay in You Must Invite You pay in You Must Invite You pay in You Must Auto Enrol You pay in You Must Invite You pay in Easy to understand eligibility workforce criteria

Why the sense of urgency my staging date isn’t till late 2016 or 2017!

Staging Dates Capacity Crunch Peaking at 138,000 Total of 45,000 businesses staged during 2015 Over 100,000 business must stage in the first qtr 2016

The Pension Regulator Advises Businesses to become compliant at least 12 to 18 months ahead of your staging date. WHY? 50,000 to 130,000 Staging Every Month From 2016 Via a handful of interested pension providers Don’t leave it, don’t get caught in the capacity jam 1.8 Million To Comply

Penalties & Enforcement Statutory Notices – contraventions, non-payments Statutory Powers – gathering information, inspections Discretionary Powers – Improvement/Warning Notices Fixed Penalty Notice - £400.00 Escalating Penalty Notices Employees Daily Rate Monthly 1 to 4 £50 £1,500 5 to 49 £500 £15,000 50 to 249 £2,500 £75,000 250 to 499 £5,000 £150,000 500 plus £10,000 £300,000 Civil Action Criminal Prosecution up to two years imprisonment for serious non-compliance WARNING This will cost your business if you do NOT comply in time Fees are cheaper than the Fines 32 Page HMRC document on fine pursuance

What We Do – Solution Peace of Mind Workplace Pension scheme for your business compliant with The Pensions Act 2008 Compliance Communication from order to staging date, we hold your hand. Ensures all eligible employees, contractors ‘workers’ are registered in the scheme so no one is excluded that should be included. Contributions data checked to ensure it meets legal requirements. Protect your business against disgruntled ex employees ‘whistle blowers’. Provide all paperwork for employees and Regulator reporting for audit inspection. Offer compliant pension providers who will consider you. OR – via Payroll outsource provider – dedicated website

From Now to Your Staging Date Our Fees – The Solution From Now to Your Staging Date Employee Base List Fees 1 to 2 £750 3 to 5 £900 Additional Workers charged at All fees plus VAT @ 20% Discounted Fees £600 [Special] £750 £75 Our ‘one off’ fees cover everything in What We Do from now to your staging date – For Your Total Peace of Mind

Do it Now Workplace Auto Enrol Pensions – It’s the Law THE FACTS The Pension Act 2008 makes all employers responsible to set up a workplace pension and automatically enrol eligible staff by your given ‘staging date’ even if you only employ ONE person. Employers are responsible for the collection and joint contributions to a workplace pension that belongs to the individual employee which they can take with them from job to job. Failure for your business to comply you will incur heavy penalty fines and daily fines until you comply. If you delay you will get caught up in the inevitable capacity crunch. You should not put off what you can do today and save money in the process with Workplace Pensions. Do it Now Workplace Auto Enrol Pensions – It’s the Law

Compliance & Enforcement From 1st Jan to 31st March 2016 In period 3 [24] to date Inspections - The power to inspect premises under section 74 of the pension Act 2004 3 [24] Compliance Notices – Issued to remedy a contravention of one or more employer duties under section 35 of the pension Act 2008 3,057 [7,834] Fixed Penalty Notices – Issued penalties of £400 for failure to comply 806 [2234] Escalating Daily Penalty Notices – Issued penalties between £50 & £10,000 daily fines 96 [127] This is in the quiet period before it really gets busy from 2016

Time is a luxury you do not have Doing nothing is Not an Option this is a legal requirement As an Employer you MUST set up a Workplace Pension All eligible workers MUST be auto enrolled Avoid penalties and daily fines by your Staging Date You need to act now and accept a business solution from Workplace Pensions Compliance. Avoid the rush & heavy fines be compliant, be ready, no need to make any contributions till your staging date - be protected

You Can Relax with Consider it Done Contact For Questions Tel: 020 3637 6050 Em: info@workplacepensionuk.com www.workplacepensioncompliance.co.uk Government Pension Regulator - www.tpr.gov.uk Consider it Done

Book Your Face to Face Consultation Now Tel 020 3637 6050 or Book Online www.workplacepensioncompliance.co.uk