Setting up a workplace pension
What new employers need to know and do to auto-enrol their staff and meet their employer duties
How we can help
Trusted by over *6 million+ members and over *100,000 employers, we’re one of the largest master trusts in the UK, offering simple and accessible workplace pension solutions.
We use our profits to provide trusted financial products and support that really help people. We call it “profit for people” and give back more than *£1m+ to our members each month.
We offer the complete pension package to meet the unique needs of any organisation, large or small, in any sector. Don’t just take our word for it; hear how Lyn Binns, Payroll Manager at the Banks Group, selected and implemented The People’s Pension scheme:
*All figures correct as of April 2023.
We aim to make workplace pensions simple for all new employers.
Our step-by-step guide will help you meet your employer duties and leave you to get on with what you do best – running your company.
6 steps to auto-enrolment
Setting up your workplace pension with us is simple.
Here’s our step-by-step auto-enrolment guide to getting set up…
If you’re employing staff for the first time, you’ll need to start complying with the automatic enrolment duties immediately – from the first day your first member of staff starts working for you.
If your duties start date was less than 6 weeks ago, it may be possible to postpone for up to 3 months. Be quick though, as the company’s employees need to be told about the postponement within 6 weeks of your duties start date. You can also use postponement from an employee’s first day of employment or the date that they first meet the criteria to be put into a pension scheme.
Download: our template communication
1. Work out who you need to put into the pension scheme
You’ll need to assess your employees to see if any of them meet the age and earnings criteria to be put into a pension scheme.
By law, any employee who is 22 years old or older (but under state pension age) and earns more than £10,000 a year (for the current tax year) must be enrolled in a pension scheme. If you’re an employer with at least 1 eligible member of staff, then auto-enrolment will apply to you.
2. Make sure your payroll software is up to speed
Most payroll software is compatible with automatic enrolment and will work out who you need to put into a pension scheme. In some cases, you may need to make some changes to your payroll software.
You can submit your employee data to us easily and securely so we can allocate pension contributions into employee pension savings. You can enter this data yourself, or you might be able to submit it to us automatically from your payroll software provider. You’ll need to speak to your payroll software provider about this option.
4. Tell your employees about the workplace pension scheme
It’s important to let your staff know about their new pension.
You’ll also need to tell those who don’t need to be automatically put into the pension scheme, as they’ll still have the option to join if they want to.
And you’ll need to tell your employees if you’re using postponement.
5. Log in to Online Services
Once you’re all set up, you can log in to Online Services to manage your account.
This is where you submit your employee data every pay period – including new starters and employees who have asked to join.
It’s also where you add money to staff pension pots and oversee any members of staff who want to leave the scheme. Your payroll should also monitor employee ages and earnings to make sure you’re paying the right amounts, and that you’ve enrolled everyone who needs to be in the pension scheme.
6. Complete your declaration of compliance with The Pensions Regulator
The final step is to complete your declaration of compliance with The Pensions Regulator within 5 calendar months of the start of auto-enrolment duties.
We can help inform the regulator for you.
You’ll find the pension scheme details you need to do this by logging in to your Online Services account. And choose whether you want us to help inform them or if you want to do it yourself.
Getting set up with The People’s Pension: 2 options
Both options come with our full support:
- Friendly UK contact teams who are just a phone call away
- Online help and support, how-to videos, and downloadable guides
- A training mode in our system for employers to practise data uploads once registered
All for a one-off set-up charge
It’s one payment of £500 + VAT. Or there’s a reduced charge of £300 + VAT for employers who sign up with a business adviser (a financial adviser, accountant, bookkeeper, or payroll provider).
If the adviser registers with us (for free), they can give employers a reduced charge code and they can get an adviser account to help employers sign up.
|The People’s Pension||Smart1||Now1|
|The People’s Pension sign-up fee||£300 or £0|
|2 year employer cost||£0||£360||£150-£4322|
|5 year employer cost||£0||£900||£750-£2,1602|
|10 year employer cost||£0||£1,800||£1,500-£4,3202|
2 Ongoing monthly charge between £12.50 and £36 + VAT (based on number of employees and use of payroll bureau)
Ready to sign up?
Have you already taken on your first member of staff but haven’t set up your pension scheme? Ideally, employers should set up a workplace pension scheme before the start date of their auto-enrolment duties. But don’t worry, it’s not too late!
In a few simple steps, we can help you set up a compliant workplace pension scheme. It’s important to act now, as The Pensions Regulator can hand out heavy fines to employers that don’t comply with the law.Sign up
Get set up as quickly as possible
- If you’re within 6 weeks of your duties start date, our Simply Tailor set-up route allows some duties to be postponed.
- If you’re 6 weeks or more past your duties start date, the quickest and simplest way is to use our Simply Comply set-up route, or you can use Simply Tailor for a more tailored set-up.
- The Pensions Regulator will ask for any missed pension contributions to be backdated to the missed duties start date. Need help? Just give us a call on 01293 58 66 43.
Contact The Pensions Regulator
- You need to let The Pensions Regulator know that we’ll be providing a pension scheme for the business you’re signing up. Give them a call on 0345 600 1011 and have the company’s PAYE reference number to hand.
- The Pensions Regulator fines businesses who don’t meet their legal duties, like missing their
duties start date.
Setting up a workplace pension scheme if you’re self-employed
If you’re self-employed and want to pay into a pension through your business, you’ll need to set up a workplace pension scheme
Advisers: Helping your clients get set up
Our Adviser Centre helps you to help your clients. Set up and manage multiple clients from one simple login using our secure online system.
Our fast-track set-up and simplified online system are ideal for clients who need your support at implementation and beyond, but are happy to manage the ongoing administration, leaving you more time to help additional clients.
Our streamlined employee data transfer and administration saves you time and ongoing costs and helps make your clients’ lives easier too.
Reduced charge code
If you’re supporting a client with automatic enrolment, they can benefit from a one-off reduced charge – no matter which way they choose to sign up to The People’s Pension.
The charge (£300 + VAT) can be paid by debit card, credit card, or Direct Debit.
Get your code to share with your client
To ensure your clients benefit from this reduced charge, you need to get a code and share it with your clients.
Your code can only be accessed by you in a secure area using a password. If you forget it, don’t worry – you can easily retrieve it.
Any problems with your reduced charge code, drop us a line and we’ll get it sorted right away.
The employer pays the charge – there’s no cost to you. (Although you can choose to pay the charge on behalf of the employer.)