Auto Enrolment is Evolving: What you need to know for 2018
Auto Enrolment is Evolving: What you need to know about phasing, re-enrolment and how new employers will deal with auto enrolment.
Automatic enrolment has well and truly evolved since the rollout began in 2012. Over 750,000 small and micro employers reached their staging date last year making it the biggest year ever for auto enrolment. This is the final year of the staging date process, but there are also a number of new changes coming within the next twelve months that payroll bureaus need to be aware of.
- Phasing: Minimum contributions are set to increase this coming April and then again in April 2019, which is known as phasing. Bureaus and their clients need to be aware of how these increases affect them and understand how they will be implemented.
- Automatic Re-enrolment: Larger employers have already gone through the re-enrolment process. Automatic re-enrolment occurs once every three years on the third anniversary of the staging date. There are certain steps that clients need to take to fully comply with their re-enrolment duties.
- Auto Enrolment & New employers: After October 2017, new employers who employ staff for the first time will not have a staging date. Instead, they will have a duties start date which will kick start their auto enrolment duties instantly.
Find out how these changes will affect your payroll processes by downloading our guide or joining us for a free CPD webinar. Our guide and webinar are designed to help bookkeepers understand the upcoming changes that will affect their clients.
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Written by Karen Bennett | BrightPay Payroll Software