How automatic enrolment affects you

If you’re an employer with at least one member of staff then automatic enrolment will affect you. The point at which it starts to affect you is called your ‘staging date’.

Helping your employees save for retirement

An estimated seven million people in the UK aren’t saving enough for retirement. So having the right workplace pension is more important than ever. Automatic enrolment is all about addressing this, while The People’s Pension is all about making it simple for you.

It all starts with your automatic enrolment staging date. When this is depends on the size of your largest PAYE scheme as at 1 April 2012.

From your staging date, your company will put certain members of staff (known as ‘eligible jobholders’) into a suitable workplace pension scheme and start making contributions to their pension pots.

The key to starting to plan for automatic enrolment is to know your staging date.

Know your staging date

The Pensions Regulator will send a letter 12 months ahead of your company’s staging date to make you aware of automatic enrolment and remind you to plan for it.

You can find your staging date for automatic enrolment by using the calculator on The Pensions Regulator’s website.

Make sure you have your PAYE reference to hand as you’ll need this to find out your staging date.

 

Next: How The People’s Pension works

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