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Workplace pensions and your business

Deborah Pegg, Solicitor in Astle Paterson’s Commercial Department discusses workplace pensions.

Deborah said “There are still many Companies who are not aware that there has been a change in the law regarding workplace pensions.

The effect of this change means that every employer (even if you only have one employee) must automatically enrol all eligible staff on a workplace pension.

The date by which you need to put your pension provisions in place is known as your ‘staging date’.

You  may already have received notification of your staging date but for further information on who is eligible and to find out your staging date (if you know your employer PAYE reference) go to the Pensions Regulator’s website at www.thepensionsregulator.gov.uk.

If you don’t pay your staff through a PAYE scheme, your staging date will be 1 April 2017.

Once you know your staging date, you may need to amend your staff handbook and any new employment contracts going forward to include the necessary provisions regarding automatic enrolment in a workplace pension. You will also need to inform existing staff of the changes.”

Deborah concluded “The changes apply to businesses regardless of how small or large they are – simply sooner or later your business will be effected.

It is a good idea to make sure of your staging date in case you need to take any steps or obtain further advice, prior to April 2017, on enrolling your staff on a workplace pension.”

To find out more please contact Deborah Pegg, Solicitor in Astle Paterson’s Commercial Department on either 01283 531366 or by email at dpegg@astlepaterson.co.uk.

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