Automatic Enrolment Service
Cloud Bookkeeper are offering the Automatic Enrolment service. By law, all businesses including small to medium size enterprises (SMEs) need to have enrolled their employees into a pension scheme.
“Employers who don’t set up their scheme on time risk getting a substantial fine, ranging from £50 to £2,500 per day”
What is Automatic Enrolment?
Automatic enrolment is a Government initiative to help more people save for later life through a pension scheme at work. Under the Pensions Acts of 2008 & 2011, workplace pension law has changed and every employer in the UK is required to help their workers save for retirement.
- Automatic enrolment makes it compulsory for employers to offer eligible workers a workplace pension
- The employer must automatically enrol every eligible worker into the scheme
- Failure to comply with the legislation could incur severe penalties and fines
- The employer must make a minimum contribution to the scheme
Don’t Panic – get in touch and see how we can help.