Watch the short video below to learn what you, as an employer should consider.
As an Employer you should prepare for auto-enrolment by budgeting for the scheme’s costs and considering its impact on existing pension plans.
If some employees are not currently enrolled in a workplace pension, they may be automatically enrolled in the new scheme, potentially leading to two parallel schemes. Employers should encourage staff to join the existing scheme if preferable.
Payroll software will be updated to support auto-enrolment, ensuring compliance and a smooth transition.
You should also communicate proactively with employees about upcoming payroll deductions to help them plan and avoid confusion.
Need help deciding between Auto-Enrolment vs Pension Scheme?