Managing automatic re-enrolment for employees
October 3, 2017
Over the last five years there has been a seismic shift in attitudes towards retirement saving. Auto-enrolment means workplace pensions are now regarded by many employees as a normal part of working life. Although detractors argue that minimum contributions lull people into thinking they are saving enough for a dream retirement, auto-enrolment has got considerably more people saving something, however small, for their retirement.
As an employer you have probably been through the process of starting auto-enrolment and should be managing your ongoing responsibilities. These include making contributions, deducting employee contributions through payroll and making sure you're paying at least the minimum contributions.
But auto-enrolment doesn't stop with the routine tasks. Every three years employers have to re-enrol eligible workers who are not part of a scheme. These are usually workers who opted out when you first began auto-enrolment. Although this may sound like another administrative burden to get your head around, this process is very similar to getting started with auto-enrolment. And, like beginning starting auto-enrolment, it pays to plan ahead.