Rossmore Financial Services share 7 questions each employer should ask, as they prepare for auto-enrolment pensions.

1. Auto-enrolment
Pensions:
7 Questions to Help
Your Business
Prepare

2. How will reforms
affect me and my
workforce?

3. Let’s take a look…
Before auto-enrolment
• Saving for pensions was
purely the responsible of
employees.
• Having a pension was
optional for workers.
• Workers may be unaware
of work pension schemes.
After auto-enrolment
• Every employer in the UK
will help more workers
save for retirement.
• You must automatically
enroll certain members of
your workforce.
• It is essential to share your
work pension scheme with
employees.

4. Break it down

5. Stages
Before staging date
During staging date
After staging date
13
2
Unsure of your staging date? Ask Rossmore.

7. How do I assess my workforce?

8. Pay period. definition
The period your payroll
covers when you
calculate each separate
payment of earnings to
your employees.
For example, if you pay
people on the 27th of the
month for work carried
out over the whole
month, then pay period is
the whole month; it
doesn’t end on the 27th.

9. Doing the assessment
Your employees can be
divided into the following
groups:
Enrolment state Employees
You do not need to auto-enrol these
people
Entitled workers
Non-eligible jobholders
You need to auto-enrol these people Eligible job holders

12. Which scheme am I going to use to
make contributions?
• If you already have a scheme in place –
check with your pension provider as soon as
possible.
• If you do not have a scheme in place –
you may need to make provision
yourself, which Rossmore can help with!
• If you have a defined benefits scheme in
place–
this can be used for auto-enrolment.

14. Who do I need to talk to about auto-
enrolment?
Rossmore
Pension provider
The Pensions
Regulator
Payroll
provider

16. How much will I need to pay?
The minimum amount you need to contribute is worked
out on a branded earnings basis,
However ultimately YOU work out contributions
By 1 October 2018, you should be paying contributions
of 8% of an employee’s banded earnings;
Of that 8%, you must pay at least 3%
Rossmore have access to AME to help you handle
calculations.

18. What happens
after my staging
report?
The MAIN thing you
need to do…
Keep making the
appropriate level of
contributions and
continue to do so on
time!
Speak to Rossmore to
find out how The
Pensions Regulator can
help keep things in
check!

20. Where can I get further help?
To discuss the technical aspects of auto-
enrolment, please send us an email at:
info@rossmorefinancial.co.uk
or
call us on
01926494747