Auto Enrolment hits the two million mark

Bevan & Buckland Accountants logoAutomatic enrolment hits the two million mark

17 December 2013

More than two million workers have begun saving into a workplace pensions scheme as a result of automatic enrolment, according to figures released by The Pensions Regulator.  “But this is just a drop in the ocean. Millions more will come under the legislation in the next few years” writes Tina Davies, Payroll Manager at Bevan & Buckland.

Automatic enrolment began in October 2012 and is rolling out from the largest to the smallest employers across the UK. All employers, including charities and the public sector, will eventually need to assess their workforce and automatically enrol eligible workers into a pension scheme.

This month’s automatic enrolment registration report shows that more than 3,500 employers have now joined the workplace pension’s revolution and submitted an online declaration of compliance by completing registration with The Pensions Regulator.

The new year will see a leap in the number of firms affected, with tens of thousands of medium employers introducing automatic enrolment. The Pensions Regulator is urging all employers to make sure they know when they must introduce the changes, or ‘stage’.
Charles Counsell, executive director of automatic enrolment at The Pensions Regulator said: “If they have not done it already I would hope the first thing every employer does when they get back to work after the Christmas break is to check their staging date and prepare for automatic enrolment. The clock is ticking and if employers don’t plan ahead they could face unnecessary challenges and costs in the New Year.

“It’s really important to arrange your pension provision in plenty of time. We urge employers to have an agreement with a provider in place six months before staging. Don’t just assume the first provider you contact will be able to help you.”
If you have any concerns or issues regarding your staging date please do not hesitate to contact Tina Davies the payroll manager or anyone of the payroll team who will be able to confirm your staging date.

For further information about how Bevan and Buckland can help your company with management of the payroll contact Tina Davies on 01792 410100 or by email at help@bevanbuckland.co.uk.

To find out what other services are offered by Bevan and Buckland visit www.bevanbuckland.co.uk.

Tina Davies
MCIPP(dip) Member Chartered Institute of Payroll Professionals

Tina Davies is manager of Bevan & Buckland’s Swansea Payroll Department, we also operate a payroll bureau service from the firm’s Pembroke and Haverfordwest offices.  

http://www.bevanbuckland.co.uk/services/payroll Tel: 01792 410117

Bevan & Buckland Accountants Swansea Tel: 01792 410100

Bevan & Buckland Accountants Haverfordwest Tel: 01437 760666

Bevan & Buckland Accountants Pembroke Tel: 01646 682383

Bevan & Buckland Accountants Carmarthen Tel: 01267 233115

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Bevan & Buckland Accountants Newton Abbot Tel: 01626 361484

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