Startup businesses who employ staff for the first time from 1 October 2017 are now subject to the pensions auto-enrolment regime. The practical consequence is that new businesses must take steps to automatically enrol employees into a pension scheme from the day they start work, or alternatively apply a postponement period of up to 3 months in respect of them before starting to make contributions.
If you are a new business and are required to auto-enrol staff for the first time, our Head of Pensions, Andrew Campbell, would be happy to assist you with any questions you may have.
On 1 October, so-called “instant pension duties” took effect, and no more staging dates are being issued. Instead, anyone who starts up a new business or takes on a nanny/carer etc will have a legal duty to put an eligible employee straight into a workplace pension