Pension Changes - Auto Enrolment
Auto enrolment is essentially a new compliance function for your company and as your Trade Association we want to make sure you are in the best place to deal with the issues it presents, which is why we asked Andrew Botterill, Managing Director of Tenet Employee Benefits Solutions to come to Conference and give you a very brief ‘heads up’ on the essence of the legislation and challenges.
The key points we want to make sure you are aware of -
You will all have a staging date assigned to you determined by the number of employees on your PAYE scheme as at April 2012.
2015 onwards will be the turn of the employers with 50 employees or less as at April 2012.
You will receive a notification of your staging date 1 year before staging with reminders subsequently.
You will need to establish a qualifying workplace pension scheme as at your staging date.
You will need to assess your workers (not necessarily just your employees) each time you pay them and drop them into 1 of 3 categories.
Each category has a separate list of communications which must be sent within certain time periods.
If you identify eligible employees – those between ages 22 and 65 earning over £10,000 (as at 2014/15 tax year) you must automatically put them into your pension scheme and make a deduction – the company must also pay a contribution.
You must notify the pension provider of your eligible employees – they will collect contributions and issue an opt out notice to the employee – if the employee notifies the provider within 6 weeks that they do wish to opt out then they and the company get a refund.
Individuals who do opt out must be re-enrolled every 3 years.
You must keep records.
You have decisions to make regarding the definition of pensionable salary and contributions.
There are also options around phasing contributions up to October 2018 and you can use a facility called postponement to manage resources and costs – (you cannot postpone your staging date although you can apply to bring it forward)
Things to bear in mind
Auto enrolment is potentially complex – in all likelihood you will need some kind of help
The most significant problem everyone faces is capacity – with over 40,000 companies staging this year and 130,000 companies in first quarter 2016, presents all participants with problems of finding an appropriate pension scheme, setting up your payroll, complying with your employer duties and getting someone to help you without paying the earth.
Tenet can assist you with all aspects of your auto enrolment project management.
In September 2012 Tenet launched their Auto Enrolment Solution for Financial Adviser Member Firms, which provides us with the expertise and processes required for successful Auto Enrolment delivery.
The key credentials of Tenet Employee Benefit Solutions (TEBS):
Established in 1995
Based in Henley on Thames and Leeds
Provide administration and consultancy services on the full spectrum of employee benefits, not just Auto Enrolment
Have delivered Auto Enrolment for 70 Companies and some 8000 Employees across the UK to date
Appointed to the DWP Intermediary Focus Group in 2013
Appointed to The Pension Regulator Auto enrolment user group 2014
One of 2 Intermediaries appointed to The Pension Regulator Auto Enrolment User Group
TRACS – a state of the art Auto Enrolment software system
They also offer a reservation service that will ensure you have resource and expertise available when you need it and provide you with what you need to know – this would normally cost £350 +VAT however for SPA members the cost will be £200 +VAT, designed principally for last quarter 2015 and 2016/17 stagers
Please find the TEBS Brochure below, along with a link to the Website:
http://www.tenetebs.co.uk/media/tebs/index.html
http://www.tenetebs.co.uk/
Please contact Andy Staveley on 07751 126374 to find out more details
Please note our address and telephone number has changed
Andrew Botterill
Managing Director
Tenet Employee Benefit Solutions
First Floor
The Clubhouse
Badgemore Park
Henley on Thames
RG9 4NR
Tel: 0113 239 5325
News archive
- Date for the Diary - UK Corrugated & Print Show 2019
- SPA Update on Brexit - November 2018
- Exciting Opportunity for Suppliers...
- SPA 98th Conference - 28th January 2019 PREVIEW
- SPA 97th Conference - Review
- SPA 97th Conference Presentations available on website...
- Just two weeks to go .... Book Now !!!
- Conference nearly upon us.... BOOK NOW !
- 96th Conference Report
- SPA 96th Conference - Just a month to go .... Book NOW
- Time to Book for SPA June Conference... places are going fast !
- SPA GDPR Compliance (new initiative) - GET STARTED NOW
- Amazon Business Workshop - 'How to get started...'
- Another Price Increase ... SPA Workshop on getting your Increases
- Need answers on what's going on with Paper ?
- 94th SPA Conference Review - 2nd October 2017
- Did you miss it ? Want to download the presentations ?
- Date/Venue and Outline Agenda confirmed ...
- It's now or never - Last few places, soon to be SOLD OUT !
- Just 2 weeks to go - can you afford not to be there?
- Paper Shortages - the facts... the future...
- 93rd SPA Conference Review - 12th June 2017
- Want to print better on your existing flexo machines ?
- Just a week to go 'til Conference - still places available !!!
- Conference is coming (12th June) .. Time to book !
- SPA 93rd Conference - 12th June 2017 ** BOOK NOW **
- New Contracts of Employment & Policies... On website
- NEW SPA Contracts of Employment - to be issued on Monday
- Less than a week to go.... last few places remaining.
- Conference beckons - just a few places remaining - BE QUICK !
- Brexit - How will it affect the UK Corrugated Industry ?
- Time to Book... SPA February Conference
- New Face on the SPA Committee...
- Kill 2 birds with one stone - FREE Worldclass Sales Training
- Hope you've booked... Full Programme HERE
- Time to Book - Trade Show, Gala Dinner and Sales Masterclass
- Holidays are nearly upon us - Book your places NOW !
- 'All new' Sales Managers' Masterclass... immediately after Trade Show
- Suppliers - last chance to Exhibit !!! Nearly all the stands have gone...
- 91st Conference Presentations - Now available on website
- Calling all Sales Directors... Sales Training in 7 days time
- Calling all suppliers....
- Conference packed with exciting presentations - June 20th
- 48 days to go... SPA 91st Conference - 20th June
- Worldclass Sales Training - SPA 91st Conference on 20th June
- 90th Conference Presentations now available....
- Full Agenda with timings....
- It's now, or never - less than a week to go !
- Just 2 weeks to go - and only a few places remaining....
- Changes to BRC Global Standard - come and learn what has changed
- Only a few rooms remaining - DON'T MISS OUT !
- Interested in Digital Print on Corrugated ? .... Fujifilm Spotlight
- What you'll miss if you're not there....
- Happy New Year - 'Have you got your diary handy?'
- SPA Best Practice Initiatives - now on the website !
- SPA 90th Conference - Outline Agenda confirmed...
- 89th Conference PowerPoint Presentations - now available
- SPA 89th Conference October 2015 - Report
- Last Chance - Conference is on Monday !!!
- It's all happening on October 12th... Don't miss out - BOOK NOW !
- Just 2 weeks to go - BOOK NOW !
- Calling all Golfers... come and play in the SPA Open !
- "Kill 3 birds with one .... golf ball"
- Just over 3 weeks to go until Conference - time to BOOK !
- Next Conference - just a month away... time to BOOK !
- Calling all Golfers....
- Starlight Charity - Thank you
- Packed Agenda for upcoming Conference - Just 56 days to go...
- 'All New' Sales Managers' Masterclass - 12th October
- Conference Outline Agenda Confirmed - 12th October 2015
- SPA 88th Conference June 2015 - Report
- Digital Marketing Masterclass - just 6 days away !
- Just 10 days to go - Book Now !!
- See Confirmed Agenda - Still a few places remaining....
- Just 25 days to go.....
- 3 Very Good Reasons to Attend Conference - 22nd June
- Why you should attend Conference on 22nd June...
- Digital Marketing Masterclass - with Grant Leboff
- SPA Summer Conference, 22nd June - just 47 days away...
- UK Corrugated Industry Trade Show 2015 - Report
- Last chance to book - 1 week to go...
- Business Sessions Confirmed - last chance to book ...
- Sheet Plants - Book Now or Miss Out....
- Urgent message for SPA Sheet Plants.....
- Just 6 weeks to go - UK Corrugated Trade Show 2015
- Important - Bookings for the Trade Show & Gala Dinner...
- Pension Changes - Auto Enrolment
- Happy New Year - see you next week !!!!
- Calling All Members - Ignore eMarketing at your peril !
- Calling all designers....
- UK Corrugated Trade Show 2015 - Please Note Dates
- Next Conference - Just 15 working days away- BOOK NOW !
- UK Corrugated Industry Trade Show - Video
- Just 29 working days until next SPA Conference - Book Now
- Don't get left behind in eMarketing... come see Grant Leboff
- Please 'like' us on Facebook - keep up-to-date with SPA news
- Sales Managers' Masterclass Part 2 - Date & Venue Confirmed
- Grant Leboff - confirmed for 86th Conference
- 85th Conference PowerPoint Presentation - available to download
- Employment Law Telephone Helpline
- SPA Board Grade Calculator Programme
- SPA Sales Managers' Masterclass - last few places remaining
- 85th SPA Conference - Report
- Just 7 days to go....
- Important Notice to SPA Supplier Members
- Chairman calls on all members to support SPA...
- Next SPA Conference - Just under 4 weeks to go....
- Version 3 SPA Abaca Dashboard - sign up at Conference
- SPA Sales Managers' Masterclass - BOOK NOW
- SPA 85th Conference - just 46 days to go....
- Corrugated Industry Trade Show 2015 - hosted by the SPA
- Conference Agenda Confirmed
- Just 7 Days to go....
- Last few rooms remaining... DON'T MISS OUT !
- Don't delay - Book today !!
- Now is the time to start Lean Manufacturing...
- Just 3 weeks to go......
- Contract Law Documents
- Having trouble with your Sales Effort ?
- SPA Website - back 'online'...
- Agenda - Conference 23rd June
- 83rd Conference PowerPoint Presentations - available to download
- SPA 84th Conference - Agenda confirmed
- SPA Trade Show & 83rd Conference - Report
- SPA 84th Conference - 23rd June ** OPEN TO NON MEMBERS **
- New Legal Update posted in 'Legal Updates' in Members' Quick Links
- It's the Final Countdown....
- SPA Trade Show Tickets - Bring your staff & colleagues
- SPA 84th Conference - Open to Non Members
- New SPA Committee Member
- ONLY 10 Conference Places Remaining !!!!
- URGENT MESSAGE FOR SHEET PLANTS
- Trade Show & 83rd Conference - Update
- 82nd Conference Report
- Conference PowerPoint Presentations
- Trade Show dates and venue announced....
- 82nd Conference Agenda
- Printable Members List
- 81st Conference Success - Report
- 81st Conference PowerPoint Presentations
- 82nd Conference cost reduction for booking online
- Terms and Conditions of Employment
- 81st Conference 24/25 June - Agenda Confirmed
- Calling All Suppliers
- SPA New Bank Account Details
- 80th Conference Success
- SPA 81st Conference - date/venue announced
- SPA 79th Conference Success - November 2012
- New SPA website goes LIVE