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The Pensions Regulator has announced plans for a new auto-enrolment solution to help employers that currently use HMRC’s basic PAYE tools.
The proposals, set out in a consultation document, explain how pensions officials would prefer for employers to buy appropriate payroll software, rather than rely on the Revenue’s free offering, which will not be updated to provide automatic enrolment functionality.
The Pensions Regulator has announced plans for a new auto-enrolment solution to help employers that currently use HMRC’s basic PAYE tools.
The proposals, set out in a consultation document, explain how pensions officials would prefer for employers to buy appropriate payroll software, rather than rely on the Revenue’s free offering, which will not be updated to provide automatic enrolment functionality.
But reluctance by small and micro-employers to pay for software that will keep them compliant with auto-enrolment rules has led the regulator to consider devising a basic assessment tool, which would be available to all firms to process up to nine employees in a pay reference period.
Employers with more than ten or more members of staff would need to create multiple reports to assess.
The planned tool would include at least functionality to be used before staging and for each subsequent pay cycle to:
- assess all workers each pay cycle;
- calculate pension contributions for workers based on qualifying earnings;
- allow the user to store worker information; and
- be based on pay data entered and inform the employer of actions needed for different categories of worker.
Responses to the consultation should be emailed no later than 19 May.
There's a surprise ! Wait until they see how much a scheme costs , even if you have no qualifying employees !