Are your clients clear they must re-enrol employees every three years?
The Pension Regulator is reminding SMEs that re-enrolment must be carried out every three years and it is a two-stage process.
First, employers must check whether they have any staff to re-enrol and ensure those who are eligible are put back into a pension scheme. They must then complete and submit their re-declaration of compliance.
The Regulator states that the ‘majority of employers will not have staff to re-enrol, however they must still complete their re-declaration of compliance to confirm they have checked whether they need to re-enrol any of their staff, even if none were re-enrolled. This is a legal requirement and failure to both assess and re-enrol eligible staff and make a declaration could result in a fine.’
The Regulator has launched a new re-enrolment tool, to support SMEs around the re-enrolment dates. It asks a few basic questions before taking users through to a list of duties.