Your staging date is the date by which your company needs to have an Auto Enrolment scheme set-up.
On this date you have the option to postpone employees contributions to the Auto Enrolment scheme for up to 3 months.
You must have an auto enrolment scheme set up before your staging date as it is possible that without postponement employees will be enrolled immediately. When auto enrolment starts for the company is determined by the size of the largest PAYE scheme on the 1st April 2012. A helpful link to find out your staging date can be found below:
The Pensions Regulator Staging Date Calculator:
http://www.thepensionsregulator.gov.uk/employers/what-is-my-staging-date.aspx
When working out the number of people in the company, please note that this may include employees who are no longer employed by the company and those employees that are only being paid a pension. You can also choose to move your staging date to an earlier date but you cannot move it to a later one.
A pension scheme can be set up for employees at any time. You do not have to wait until auto enrolment is introduced.
Pensions Regulator
Find out more about The Pensions Regulator:
www.thepensionsregulator.gov.uk
The Pensions Regulator is overseeing the implementation of auto enrolment workplace pensions. They have been setup to educate relevant groups in the legal requirements of auto enrolment and also to enforce compliance. Employers MUST register with the Pensions Regulator to confirm the company is complying with the changes to employee pension. The deadline for registering is 5 months after the company’s staging date.
Employers will need to provide a number of details when registering with The Pensions Regulator, such as:
- Employer details – Name, Address, Email and all PAYE reference numbers
- Details of the pension scheme(s) being used – Scheme name, Address, Employer Pension Scheme Reference (EPSR), Pension Scheme Registry number (if you have one)
- The number of workers employed on the staging date (or on the last day of any postponement periods)
- Number of eligible jobholders automatically enrolled into the pension scheme
Employers may receive penalties/fines for late registration.
