The benefits of using Chrysalis
Payroll for Automatic Enrolment
Introduction to Auto Enrolment
The workplace
pension is the law and it states that every employer in the UK has duties they have to follow. Over the coming year, it is said that 750,000 small
and micro employers are due to reach their staging date, with everyone having
to comply by 2018.
Bearing this in
mind I was astonished at a statistic I read the other day from an Auto Enrolment
(AE) survey saying 1 in 10 SMEs plan to ignore these legislation changes,
whilst a further 11% are still unaware what Auto-Enrolment is.
Many employers will ask the question, 'Does Auto Enrolment affect me?'. If you are an employer in the UK and employ one or more employees, then the answer is yes and you should start preparing your business now. Auto Enrolment is a key part to the pensions reform, and as an employer you now have legal duties to enrol certain members of your workforce into a pension scheme which follows a certain set of criteria.
The date you are legally obligated to do this is known as your Staging Date which can by found on The Pensions Regulator Website.
Employers must
enrol all eligible jobholders into an AE workplace pensions scheme. The
employer must also contribute into the employee’s pension scheme, with
contribution rates rising over the coming years.
To comply with Automatic Enrolment, employers need to complete a number of AE duties, including an assessment
of all employees, communications, which involves sending the right letter, to
the right employee, at the right time, opt-in’s and opt-outs,, calculating
contributions and then sending all the relevant information over to their chosen
pension provider.
IMPACT ON EMPLOYERS
Along with the new legal duties under the new legislation surrounding Auto Enrolment, you'll also have to think about the impact it will have on your business finances, we have listed some of these costs below;
- More admin work means longer hours for payroll staff
- Contribution costs to employees pension scheme
- Making your software compatible (normally a bolt on purchase)
- Charge from the pension provider for using a scheme
Chrysalis Payroll & Auto Enrolment
Employers can benefit
greatly from using our honest and reliable AE solutions. The first main difference you will realise
about how we deal with Auto Enrolment as to any other bureau, is that we don’t
charge for this service. Our aim is to make things simple for you, and we want to help reduce the extra costs Auto Enrolment has placed.
If you already have
payroll ran by ourselves, we believe this shouldn’t be at an extra cost. Auto Enrolment
is already going to cost you extra as an employer, so we don’t want to make it
worse.
AE functionality
should be included free of charge as part of your payroll package, many
professionals have saw the introduction of Auto Enrolment as a chance to
increase revenue due to the increased workload that takes place.
Here at Chrysalis
we pride ourselves at being experts in this field, our software is fully
automated and ready for Auto Enrolment, our knowledge surrounding this new legislation
allows us to be efficient and accurate in processing, allowing the freedom to
offer you this service completely free of charge.
We offer a bespoke
package that allows you to choose which parts of AE we take care of, from just
the processing to start to end procedures, it is completely up to you. As an employer, using Chrysalis Payroll to
help you with your Auto Enrolment duties would give you a hassle free, simple
alternative to Auto Enrolment. For efficient and successful AE
compliance, Chrysalis Payroll offers huge advantages for employers.
How we can help with Auto Enrolment
Chrysalis Payroll
offers a full flexible solution to Auto Enrolment. What’s more, there is NO additional
charge for Auto Enrolment. The services we offer are listed below;
If you are looking for a stress-free alternative to Auto-Enrolment our ongoing solutions
are perfect. From £1.50 per employee or free with our 12 month payroll contract we can
take care of all of your ongoing Auto Enrolment duties including the following;
> Calculating pension deductions accurately.
> Creating and sending employee correspondence.
> Liaising with your pension provider.
> Upload of files to pension provider.
> Completion of your declaration of compliance.
> Dedicated Auto Enrolment specialist.
> Centralised Auto Enrolment email and support line for employees.
The AE process with Chrysalis Payroll
Chrysalis can
automate a lot of the administrative Auto Enrolment processes for you. Simply give
us your staging date and which pension provider you wish to use, and the rest
is easy.
Find out just how easy
the entire process can be by speaking to one of your specialists today.
