Auto Enrolment Redhill
If you run a micro, small or medium enterprise in the Redhill area, you might have heard about auto enrolment, but perhaps you’re unsure about how it applies to you. It’s important you do your research to find out as much as you can about auto enrolment and how it will affect your business.
Under auto enrolment, any Redhill employer with one or more member of staff will need to do the following:
- set up a workplace pension scheme, which meets minimum standards –businesses need to choose an auto enrolment Pension scheme
- ensure that any employees who meet the qualifying criteria are automatically enrolled into the pension scheme – usually this means workers aged between 22 and state pension age who earn at least £10,000 per year
- enrol other workers who ask to be a member of the workplace pension scheme
- pay in to each employee’s pension every month, subject to minimum amounts which are based on the employee’s earnings – and arrange for a minimum proportion of their earnings to be contributed as well.
Because the rules are new and many Redhill employers have no experience of setting up and managing pension schemes, many businesses are using the services of auto enrolment experts to get them started. Contact us at Bookkeeping Synergy to find out how we could help you.