Re-enrolment & re-declaration: a 2-stage process make sure you know what to do – don’t risk a finePublished on Business stage: Scaling, Starting, Thinking, Unlocking
Over the coming months hundreds of thousands of small and micro employers will reach their re-enrolment deadlines.
Re-enrolment means staff who opted out of their workplace pension are put back in by their employer. It’s an important task because it means these staff are given fresh encouragement to save for their retirement.
Whether or not you have staff that need to be put back into your workplace pension, you must complete and submit a redeclaration of compliance to The Pensions Regulator (TPR).
Most warning notices issued by TPR are because an employer has missed their re-declaration deadline. In most cases they have completed their re-enrolment duties, but failed to tell TPR what they’ve done by submitting their re-declaration of compliance.
Two stages of re-enrolment
1. Choose your re-enrolment date, assess your staff, then write to those you have re-enrolled, informing them that they have been put back into your pension scheme.
2. Complete and submit your re-declaration of compliance within 5 months of the 3rd anniversary of your previous re-enrolment date. Don’t risk regulatory action, or a fine. Visit TPR’s website to find out exactly what you need to do, and by when. There’s a useful tool to follow, and also a compliance checklist to guide you through the process
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