From the Pension Regulator

We’ve been keeping an eye on pensions throughout the crisis, making sure we support employers and savers during this difficult time. Our recently launched advertising campaign reminds employers that while 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 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 for their own 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 just over two months left until the government’s Coronavirus Job Retention Scheme closes, 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. Please encourage your clients to read our employer guidance, so they don’t fall foul of the law.

For regular updates make sure to follow our dedicated LinkedIn adviser page.

Regards,

The Pensions Regulator

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