Auto-enrolment makes it a legal requirement for all employers to have a pension scheme in place and as an employer you will also need to contribute to the scheme even if you only employ one member of staff.
The deductions start at 1% from the employee and 1% from the employer, but will rise to 2% and 3% respectively in April 2018 and 3% and 5% from April 2019. You will want to factor in these additional costs when taking on new staff or when conducting salary reviews.
Auto-enrolment is a complicated area and the penalties in place for not adhering are particularly high. We can set up your auto-enrolment scheme to guarantee full compliance, whilst meeting both internal and external deadlines. Furthermore, as an employer, you will be required to inform staff of the relevant changes, we will be able to assist you with this.