Auto enrolment action plan

By Mattioli Woods

18 Mar 2015

Don't get caught with your head in the sand!

By Craig Hugo, Taylor Patterson.

With Christmas and New Year a distant memory, employers are concentrating on ensuring 2015 is a successful and profitable year. However in 2015, an increasing number of employers will have to comply with workplace pension reform legislation, also known as ‘auto enrolment’.

During 2015 approximately 45,000 employers reach their “staging date”. This is the date allocated by The Pension Regulator, when an employer needs to have in place a qualifying workplace pension scheme in order to comply with the legislation. Complying with the new legislation, has both cost and administrative implications on employers.

With this number of employers staging there is likely to be a huge strain on the pensions industry, with many of the large scheme providers focussing on profitability and being selective in the employers they will offer a pension scheme. In order to ensure employers have a wide a range of providers to choose from, it is imperative that they plan early and decide on how they will comply.

The following is our quick guide for employers, to ensure that auto enrolment doesn’t create a nasty surprise:

1. Plan early

We would recommend that employers give themselves at least 6 months prior to their staging date to begin their planning.

2. Know your workforce

Ensure that your payroll data is clean and ready in terms of staff personal details and remuneration.

3. Understand the potential costs

Putting aside the cost and time of administration, the cost of contributions will be a new company expense for many employers. There are a range of calculation methods available to employers in determining contribution levels for staff.

4. Review existing schemes

Employers may already have a workplace pension scheme in place, however, if the scheme does not meet the strict criteria required by legislators, it will not be deemed ‘Qualifying’ and will not satisfy auto enrolment obligations.

5. Consider the options

With a wide range of potential scheme providers, as fully independent financial advisers, Taylor Patterson can review the full market for you and provide recommendations of suitability.

6. Ongoing administration

Employers have to be careful not to fall into the trap of assuming that successfully negotiating their staging date is the end of their obligations. In reality, a big step has been taken but the ongoing administration is arguably more onerous than the initial steps.

7. Staff engagement

It will cost employers to successfully meet auto enrolment legislation. Our advice to all employers would be to ensure staff engagement to generate a return on the investment and make certain employees understand the benefits of saving for retirement via the pension scheme.

Taylor Patterson have considerable experience in the auto enrolment process, having already assisted many clients in fully complying with auto enrolment legislation in an efficient and effective manner. Our auto enrolment services include financial impact analysis, payroll liaison and staff engagement packages, amongst others, to ensure that the different needs of different employers can be met. With a wide range of issues to consider, it is important that employers give the time and resources to ensure the establishment of a pension scheme for their employees is dealt with professionally.

Latest news

1

Pleasure Beach Resort takes home four prizes at UK Theme Park Awards Pleasure Beach Resort’s David Hill, head of rides, and Stuart Cumming, marketing manager with the awards

Pleasure Beach Resort takes home four prizes at UK Theme Park Awards

18 Sep 2025

2

Brookhouse Aerospace invests more than £500k in additional machinery to support growth Brookhouse Aerospace machining facility

Brookhouse Aerospace invests more than £500k in additional machinery to support growth

18 Sep 2025

3

Growth Plan maps out £20bn-plus investment journey Mo Isap from the Lancashire Business Board with the plan

Growth Plan maps out £20bn-plus investment journey

18 Sep 2025

4

Post Office future secured as council explores new options Abington Street Post Office

Post Office future secured as council explores new options

17 Sep 2025

5

Airframe Designs supports new defence strategy with pledge to nurture talent Jerrod Hartley

Airframe Designs supports new defence strategy with pledge to nurture talent

17 Sep 2025

Background image for hub sign up block

LBV Hub

Leverage Lancashire Business View platforms

Post your news
Post your events
Post your offers
Build your network
Improve your SEO
Gain coverage in the magazine
Sign-up
Events
CMI Level 5 Management and Leadership Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Management and Leadership Course

Preston Campus, Preston , PR1 2HE

09:00 - 17:00

CMI Level 5 Project Management Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Project Management Course

Preston Campus, Preston, PR1 2HE

08:00 - 17:00

Cumbria Business Expo 2025
https---cdn.evbuc.com-images-880461633-4862066883-1-original.20241022-110415.jpeg.jpg
LBV Hub Exhibitions
19 Sep 2025 - 19 Sep 2025

Cumbria Business Expo 2025

Carlisle Racecourse, Carlisle, CA2 4TS

09:00 - 15:00

Your Business, Your Region: Making sense of devolution and Local Government Reorganisation
Chorley Council breakfast event new
LBV Hub Networking
23 Sep 2025 - 23 Sep 2025

Your Business, Your Region: Making sense of devolution and Local Government Reorganisation

Worden Hall, Leyland, PR25 3DH

08:00 - 11:00

Preston Freelancer Meet-Up: September
Sept Freelancer (1).png.png
LBV Hub Networking
23 Sep 2025 - 23 Sep 2025

Preston Freelancer Meet-Up: September

Society1, Coworking Space, Preston, PR1 3LT

10:00 - 11:30

Speed Networking with BNI
2.png.png
LBV Hub Networking
24 Sep 2025 - 24 Sep 2025

Speed Networking with BNI

Chorley Football Club, Chorley, PR7 3DU

16:00 - 19:00

The Marketing Metrics That Matter – Sept 25
Metris 25.09.png.png
LBV Hub Seminars
25 Sep 2025 - 25 Sep 2025

The Marketing Metrics That Matter – Sept 25

Door4 Office, Burnley Wharf, Burnley, BB11 1JG

09:00 - 11:00

The Marketing Meetup IRL: Lancashire - September
TMM Lancashire
LBV Hub Networking
25 Sep 2025 - 25 Sep 2025

The Marketing Meetup IRL: Lancashire - September

Chorley, PR7 2SL

18:00 - 20:00

Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) drop-in day
MTD drop in session.jpg.jpg
LBV Hub Seminars
25 Sep 2025 - 25 Sep 2025

Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) drop-in day

Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) drop-in day, Blackburn, BB1 5QB

10:00 - 16:00

Help to grow management course
Help to grow - barriers to growth.png.png
LBV Hub Seminars
26 Sep 2025 - 16 Dec 2025

Help to grow management course

Preston Campus , Preston , PR1 2HE

09:00 - 15:00

The Future of Work: Tech, teams and thriving in a changing world
Oct PTC.png.png
LBV Hub Networking
07 Oct 2025 - 07 Oct 2025

The Future of Work: Tech, teams and thriving in a changing world

Society1, Coworking Space, Preston, PR1 3LT

18:00 - 19:30

Chamber Breakfast Networking – October
Lancs-cham-logo.jpg.jpg
LBV Hub Networking
07 Oct 2025 - 07 Oct 2025

Chamber Breakfast Networking – October

Soul Bowl, Morecambe, LA4 4BU

08:00 - 10:00

Advertise with us

Reaching 50,000 members, our print, digital and event platforms offer a fantastic way to raise your business profile and help you grow.

Find out more LBV124 Online Graphic
Subscribe now

Weekly news bulletin