What Are The Important Duties For Employers For Automatic Enrolment?
Automatic enrolment refers to the pension scheme under which employees working at any place get automatically enrolled with the pension scheme applicable at their workplace. The employees have just to get enrolled with their company or organization and they will get enrolled with auto enrolment for employers. It is all the duty of the employers to make all arrangements and efforts so that all of their employees are covered under the pension scheme. Apart from getting the employees enrolled with auto enrolment for employers, the employers have to fulfil some other duties too even when the employees have been enrolled under this scheme. The chief duties are as under.
Calculation and payment of contributions-Once all the employees are enrolled under pension scheme, the employers are responsible for calculating and paying all the contributions towards the pension amount. It includes contribution of the employer as well as the staff.
Regular updates about age and salaries- It is also the duty of employer to keep updating the relevant pension scheme about the age as well as respective salaries of all the employees. It is all done through certain software that keeps on updating all the information automatically once proper information is supplied.
Updates about new joining and departure under the pension scheme- It is yet another important duty that needs to be fulfilled by the employers for automatic enrolment pension scheme. They have to keep informing about new joiners in the pension scheme. Similarly, information about any employee who opts for leaving the scheme is also updated by the employers. Also they have to make sure that the employees enrolling for the scheme are eligible in all respects.
Record keeping- The employers at any place are also liable to keep records relevant to the pension scheme updated. It may include information about enrolment of new employees, contributions made by you to the scheme or any other important information relevant to this scheme.
Re-enrolment– This type of duty is better known as automatic re-enrolment. It takes place every three years. Although it may seem to be a repetition of all the duties that are fulfilled by the employers during the past three years however they have to check all records carefully. It is done so as to ensure that employees that are excluded from the automatic enrolment list are re-enrolled into it.
These are all the important duties or tasks that are performed by the employers for automatic enrolment.