As part of a company’s Automatic Enrolment duties, employers must ‘re-enrol’ certain staff back into a pension scheme every three years.
What are Re-enrolment duties?
These must be carried out approximately three years after your Auto Enrolment (AE) staging date, or the date duties start. Your duties will vary depending on whether you identify that you have staff to re-enrol, or not. Either way, you will need to complete a re-declaration of compliance to tell The Pension Regulator how you have met your obligations.
Re-enrolment and re-declaration form part of your legal duty and if you don't act you could face fines.
What action should you take?
1. Choose your re-enrolment date
This date can be within a six-month window, which starts three months before the third anniversary of your AE staging date and ends three months after it.
2. Assess your staff
On your re-enrolment date, you will need to assess certain staff to work out if you need to put them back into your pension scheme.
3. Write to staff
To inform those that you have re-enrolled; within 6 weeks of your re-enrolment date.
4. Complete your re-declaration of compliance
Tell The Pensions Regulator how you have met your legal duties. This needs to be completed within 5 months of the third anniversary of your staging date.
‘We have Automatic Enrolment specialists on hand to assist you with your Re-Enrolment duties. For a free review and quotation please call a member of the Visionary accountancy team today on 01727 730550. Remember your company must comply as re-enrolment and re-declaration form part of your legal duty.’