Ongoing processing
Auto enrolment processing is required every time there is a pay run.
Pounds & Pennies can help you with many of the functions involved:
- Assessing new starters (and postponing enrolment as applicable)
- Monitoring ages of all staff (to determine eligibility)
- Monitoring earnings of all staff (to determine eligibility)
- Dealing with enrolment
- Processing opt-outs (including refunds of contributions)
- Processing opt-ins and other joiners
- Monitoring the requirement to re-enrol staff who’ve opted out
- Processing re-enrolments (with further opt-out periods etc)
- Calculating and deducting pension contributions
- Paying pension contributions to the pension provider(s)
- Keeping full records (in many instances for six years)
