Whether you are a small or a large employer dealing with the compliance of automatic enrolment, re-enrolment, and on-going duties, SD Worx are here to support you.
Our award winning Auto Enrolment Pension Solution delivers automated and compliant assessment for new employees, enrolment and re-enrolment that works in harmony with your existing SD Worx payroll processes.
On the introduction of auto enrolment, the industry experienced upheaval and changes. No one knew what the outcome would be with regards to take up of pensions and employee opt-out rates. By 2020, it is estimated that one in nine, or 3.2 million people, will be earning the National Minimum Wage (NMW).* Many employees may have already started to opt-out of the auto enrolment due to the increase of employee contributions to 3%.
It is our estimation that with the further increase of employee contribution by 60%, will see a much higher opt-out rate. This bringing increased complexities, administration and the correct categorisation of refunds.
Whether you are a small or a large organisation dealing with the compliance of automatic enrolment, re-enrolment or on-going pension duties, SD Worx are here to support you with our award-winning Pension Solution.
All UK employers are required to enrol qualifying staff into a pension scheme and make contributions. The process of compliance is complex to understand, however, the SD Worx Auto Enrolment Essentials solution handles the complexities automatically.
Re-enrolment is the process by which on the third anniversary of your staging date, employers have a duty to re-enroll workers who are not a member of a pension scheme back into pensions saving, i.e. those who have chosen to opt-out or ceased membership.