You will have received a letter from The Pensions Regulator with your Staging Date on it. This is the date by which you, as the employer, are obligated to have everything in place and ensured that your Group Workplace Pension auto enrols all qualifying members of your work force.
New legislation requires all employers to automatically enrol qualifying members of their workforce into a pension scheme that meets certain minimum standards by their Staging Date. The Pensions Regulator has given a specific Staging Date to each company, based on the number of employees on their PAYE Scheme.
The Pensions Regulator will send a letter out to an employer informing them of their Staging Date and obligations 18 months prior to their Staging Date.
It is advised that employers begin planning for their Automatic Enrolment 18 months before their Staging Date; when they first receive a letter from The Pensions Regulator. This will become ever more relevant as more small and micro employers have their Staging Date approach and the financial services industry becomes saturated by demand for support. It is currently estimated that between now and the full implementation of Automatic Enrolment there will be 500,000 companies that need to auto enrol their workforce.
If you are unsure of your Staging Date click the button below: Find out your Staging Date