Is Your Payroll Set Up for Workplace Pensions and Automatic Enrolment?
If you are an SME and you are having to deal with the payroll requirements of Workplace Pensions and Automatic Enrolment, chances are you might be finding it quite time consuming if you don?t have a dedicated staff member/department to do all the work. If that?s you, have you thought about outsourcing your payroll? We are specialist outsourced payroll service providers, and that includes everything to do with workplace pensions.
This article looks at what the Pension Regulator says about the records and payroll processes that you need to check with Auto Enrolment. If you use us, we do it all for you.
It is essential that staff records are correct and up to date as they will be needed to run automatic enrolment effectively. Records need to include:
- Dates of birth
- National Insurance numbers
- Contact details
- Amounts paid into the pension scheme each pay period
Checking payroll software
If you have payroll software:
- Check that it’s designed to carry out all the automatic enrolment tasks to help you meet your ongoing automatic enrolment duties.?If not, you should consider updating your software.
- If you use an outsourced provider, ask them if they have a checklist of the information they?ll need for the tasks to carry out.
You should also make sure that:
- Your payroll software or process will work with your pension scheme to allow easy transfer of data between the two.
- You understand what?tax relief?method your pension scheme uses and ensure that the correct method is input into the payroll software
Once you’ve ensured your payroll process works with automatic enrolment, it will help you to be ready to pay contributions into a pension scheme and send data to your pension provider on a regular basis. It will also help you to enrol staff as they become eligible.
If you would rather have an outsourced payroll provider like us do all this for you, please contact us or call us on 0121 422 0550 for a chat about outsourcing your payroll.