Auto Pension Enrol and Entrepreneur 1

Hi guys,

I read in the news papers that Government is rolling out Auto enrollment of employees even for small firms
which might affect Entrepreneurs.

any1 got any advice on how this should be done. I think the roll out goes till 2018 and if the extension of the Entre visa is in 2016, does it mean we can overlook this auto enrollement and avoid the pension costs ?

any1 ?

Speak to your accountant or source information from the pension regulator.
http://www.thepensionsregulator.gov.uk/ ... enrol.aspx

For auto enrolment I recommend NEST pension-its very cheap if not free.

This is fairly new and some accountants do not really understand this. I suggest you read the information on the website, understand the requirements and your duties, then decide whether you will outsource the service or do it yourself.

Hi Hope,

thanks for the reply. byt I am worried abt if this has implication for the extension application.
has the guidance been updated ? is it very important for an Ent applying to extend in 2016, when the roll out itself carries on till 2018 .

any idea ?

It depends on your staging date. It's up to you if you want to bring your staging date forward so you can start the automatic enrolment. I don't see any problems here with HO if your staging date is after your extension.

Well, you may wish to seek expert opinion. My staging date is 2017 so am breathing fresh air for now as so many issues already(too much expenses). Although I intend to bring my staging date forward solely to make our recruitment attractive to the right candidate by having a pension package.

See copy n paste from the pension regulator below:

"The date your automatic enrolment duties start is called your staging date and is when the law comes into effect for you. It can be found on the letters about automatic enrolment that we send to you.

There are several tasks you’ll need to complete before your staging date to be ready to comply with your duties – for example, choosing a pension scheme.

Give yourself plenty of time before your staging date to prepare for automatic enrolment. This will allow you time to plan your finances, and find the best pension scheme for your staff and to carry out other tasks listed in this guide.

If you don't know your staging date, you can find it using your PAYE reference. If you don't pay your staff through a PAYE scheme, your staging date will be 1 April 2017.
"

thanks a lot for very comprehensive answer