Last updated: 03 Sep 2020 01:09 Posted in:
Make sure your clients know that although their business might have changed due to COVID-19, their responsibilities towards their staff haven’t. Your clients must continue to assess and put eligible staff into a pension, they must continue to make the correct employer and employee contributions on time and they must complete re-enrolment duties and their declaration of compliance.
Since the beginning of August, employers have had to pay pension contributions and National Insurance contributions for all staff. They will still be able to claim 70% of staff wages through the Coronavirus Job Retention Scheme in September, and 60% in October, before the scheme closes on 31st.
With the government’s Coronavirus Job Retention Scheme due to close at the end of October, it’s important to make sure your clients are aware of their automatic enrolment duties. Whether their staff are working or on furlough, they shouldn’t miss out on a pension because their employer failed to do the right thing. TPR are monitoring pensions closely and will take enforcement action where an employer is not complying with their legal duties. You can help stop this from happening.
AIA Director of Operations, David Potts said: “Businesses may have changed since the pandemic but pension duties remain the same. AIA members should be advising their clients that they must continue to pay pension contributions and re-enrol all eligible staff. For the most up-to-date information and compliance information read The Pensions Regulator’s employer guidance.”
Businesses may have changed since the pandemic but pension duties remain the same. AIA members should be advising their clients that they must continue to pay pension contributions and re-enrol all eligible staff. For the most up-to-date information and compliance information read The Pensions Regulator’s employer guidance.
