Upload
holly
View
45
Download
2
Tags:
Embed Size (px)
DESCRIPTION
Pegasus Software. Workplace Pensions Reform. Pegasus Software. Workplace Pensions Reform. Steve Power Product Specialist. Agenda. What is auto enrolment? . New Pensions law started in October 2012 Employers will have to auto enrol workers into Pensions. National Employment Savings Trust . - PowerPoint PPT Presentation
Citation preview
Opera 3
Pegasus SoftwareWorkplace Pensions Reform
Pegasus SoftwareWorkplace Pensions Reform
Steve PowerProduct SpecialistAgenda
What is auto enrolment? New Pensions law started in October 2012Employers will have to auto enrol workers into Pensions
National Employment Savings Trust Who are NEST & what do they offer
Coffee Break Agenda
Pegasus Web Xchange What is Pegasus Web XchangeOverview of Payroll Self Service
Operating auto enrolment within Opera 3 Activating & running auto enrolment at your Staging DateNEST IntegrationCommunicating with your workers Using XRLStoring Documents Using Document Management
Auto Enrolment
What is auto enrolment? New Pensions law started in October 2012Employers will have to auto enrol workers into PensionsPay into that Pension SchemeInform their workers about auto enrolment
Auto Enrolment
Why are the Pension Regulators doing this? Encourage private pension savingPeople living longerMany not saving enoughOver 50% of adults have no Private Pension savingsProvide another source of Income when retiredState Pension is only 110.15 a week for a single personEmployers to enrol worker automatically to help people saveEstimated 8 million worker will be auto enrolledAn individual can opt out if required
Auto Enrolment
How will this be implemented? 1.Nominate a contact2.Know your staging date3.Assess your workforce4.Review your pension arrangements5.Communicate the changes to all your workers6.Automatically enrol your 'eligible jobholders'7.Register with The Pensions Regulator and keep records8.Contribute to your workers' pensionsNominate a point of contact
Nominate a point of contact Log into the Pensions Regulators Websitewww.TPR.gov.uk/autoenrol-nominateNominate a point of contact
Know your staging date
Knowing the staging date? The date when the new law is switched on for employers is known as the staging date. The staging date for employers varies according to the number of employees they employ. Know your staging date
Know your staging date
Know your staging date
Knowing the staging date? www.ThePensionsRegulator.gov.uk
www.TPR.gov.ukKnow your staging date
Assess your workforce
What do you mean by assessing your workforce? You need to assess the category a worker falls into So how can they be categorised? 3 CategoryEligible job holderNon-eligible holderEntitled worker2 Thresholds Auto enrolment threshold (9,440)Qualifying earnings lower threshold (5,668)
The different types of workersWorkers Aged 16-74 Earning below 5,668Have a right to join Jobholders Aged 22-SPA Earning above 9,440Must be automatically enrolled Aged 16-74 Earning above 5,668 but below 9,440 OR Aged 16-21 or SPA-74 Earning above 9,440 Have a right to opt in Eligible jobholders Non-eligible jobholders Entitled workersState Pension Age
Remember, the State Pension Age is changing AgeMenWomen65CurrentApr 2016 / Nov 201866October 2020672026 / 2028682044 / 2046Review your pension arrangements
Who actually is a worker? Definition of a workerWorks under a contract of employmentHas a contract to provide work or services personally (i.e. they cannot send a substitute or sub-contract the work)Agency workersSeafarersOffshore workersReview your pension arrangements
What do we need to do in order to review our pension arrangements? Select Qualifying Pension SchemeAuto enrolment criteriaQualifying criteriaMinimum requirementsReview your pension arrangements
Minimum requirements - Contribution levels
Qualifying earnings (5,668 41,450)
Certification
BandEmployerTotalQualifying Earnings3%8%BandEmployerEmployeeTotalTier 1 : < 85% of Pensionable Pay4%5%9%Tier 2 : => 85% of Pensionable Pay3%5%8%Tier 3: Total Earnings3%4%7%Review your pension arrangements
Phased Introduction
Qualifying earnings (5,668 41,450)
DurationEmployer ContributionTotal ContributionStaging Date 30/09/20171%2%01/10/2017 30/09/20182%5%1st October 2018 Onwards3%8%Review your pension arrangements
Phased Introduction Certification
Tier 1
Tier 2
Tier 3
DurationEmployer ContributionTotal ContributionStaging Date 30/09/20172%3%01/10/2017 30/09/20183%6%1st October 2018 Onwards4%9%DurationEmployer ContributionTotal ContributionStaging Date 30/09/20171%2%01/10/2017 30/09/20182%5%1st October 2018 Onwards3%8%DurationEmployer ContributionTotal ContributionStaging Date 30/09/20171%2%01/10/2017 30/09/20182%5%1st October 2018 Onwards3%7%Review your pension arrangements
What if I have an existing pension scheme? Does that pension scheme meet the criteria for a Qualifying SchemeCan I use my existing pension scheme to auto enrol other workers?If confirmed as Qualifying Scheme then yesOr select other Qualifying SchemesOtherNESTCommunicate the changes to all your workers
What type of communications will I need to provide to my workers? Entitled workerRights to join a pension schemeNon-eligible holderRight to opt-into an auto enrolment schemeEligible job holderInformation about the auto enrol processTPR Helpful Tools
TPR Helpful Tools
TPR Helpful Tools
TPR Helpful Tools
TPR Helpful Tools
TPR Helpful Tools
TPR Helpful Tools
TPR Helpful Tools
TPR Helpful Tools
Automatically enrol your 'eligible jobholders'
Must enrol within the joining windowInformation to pension providerInformation to eligible job holdersHow do I auto enrol 'eligible jobholders'? Automatically enrol your 'eligible jobholders'
Pensions Regulator www.tpr.gov.uk
DWP www.dwp.gov.uk NEST www.nestpensions.org.uk
Automatically enrol your 'eligible jobholders'
Must enrol within the joining windowInformation to pension providerInformation to eligible job holdersActivate membership to the pension schemeOpt out periodEligible job holders can opt out using opt-out noticeContributions made during period are returnedHow do I auto enrol 'eligible jobholders'? Automatically enrol your 'eligible jobholders'
Details to identify the jobholderEmployer / Jobholder Name / NINO / DoB / etc.What you need to know statements to the jobholderYour employer cannot ask or force you to opt-outIf your are asked to leave contact www.tpr.gov.ukIf you change your mind you may be able to opt back inIf you change job your new employer will normally put you back into pension savingIf you have another job, your other employer might put you into pension saving. This notice applies only to the employer named aboveOpt-out Notice Opting in and joining a pension scheme
Non eligible jobholdersRight to opt in to the auto enrolment Pension SchemeOpt in noticeEntitled workers Right to join a Pension SchemeJoining noticeHow do I handle opt ins & joining requests? Post Auto Enrolment
On-going responsibilitiesPaying contributionsRecord keepingManage opt-outs / opt-ins
What are my on-going responsibilities? Postponement
Postponement up to 3 monthsEmployer postpones for employeesNew startersWorkers becoming eligible Job holdersCan we postpone the auto enrolment process?Register with The Pensions Regulator
What do I have to do to register with The Pensions Regulator? Register within 4 months of staging dateDetails of employers businessDetail of qualifying schemes usedNumber of eligible job holders auto enrolledHowOn-lineRegister with The Pensions Regulator
Register with The Pensions Regulator
Safeguards
So what safeguards are in place to protect employees? At Job interview must not screen applicants based on opt -outNo inducementsExtend or renew a contract Offer a one-of payment or a higher salaryOffer a promotionProhibitive activity-Withhold a promotion-Withhold a pay increase-Redundancy or dismissalSummary
1.Know your staging date2.Assess your workforce3.Review your pension arrangements4.Communicate the changes to all your workers5.Automatically enrol your 'eligible jobholders'6.Register with The Pensions Regulator and keep records7.Contribute to your workers' pensions
Pegasus SoftwareCoffee Break
Pegasus SoftwareImplementing Auto Enrolment in Opera 3
Implementing Auto Enrolment
Recording your Staging DatePayment Profiles
Implementing Auto Enrolment
Maintenance / Payment Profile / Auto Enrolment Implementing Auto Enrolment
Activating Auto EnrolmentPayment ProfilesPension SchemesAt Your Staging DateAssessing Your WorkforceOpting OutRegistering with Pensions Regulator
Register with The Pensions Regulator
Implementing Auto Enrolment
Activating Auto EnrolmentPayment ProfilesPension SchemesAt Your Staging DateAssessing Your WorkforceOpting OutRegistering with Pensions RegulatorNEST Integration
Implementing Auto Enrolment
Version Numbers for 2013/2014 Payroll Release Auto EnrolmentOpera 3 -v1.80 Opera II-v7.20
NEST Functionality-Opera 3 -v1.81-Opera II-v7.21
XRL with NEST -XRL-v1.50
Implementing Auto Enrolment
Origo Pension Providers
Communications to your workforce
You are required to keep your employees informed Letter 1 Eligible Jobholder / No PostponementLetter 2 Non Eligible Jobholder / No PostponementLetter 3 Entitled Worker / No PostponementLetter 4 Workers Already in a Qualifying PensionGeneral Notice A Postponement (All Workers) General Notice B Postponement (Ex. Pension Members)General Notice B Postponement (Non Eligible Workers)General Notice B Postponement (Entitled Workers)
Communications to your workforce
How are you identify who gets what letter? You need to assess the category a worker falls into How about using Pegasus XRL? XRL allows you to extract data from the Opera PayrollExtraction is into ExcelExcel allows you to mail merge with Word Download the letter templates for TPR / NEST
Pegasus SoftwarePegasus Web Xchange in Opera 3
Opera 3 Pegasus Web Xchange
Pegasus Web Xchange Overview Opera 3DatabasePWXDatabase+Data synced viaCommunicationFrameworkOpera 3WebsiteCommunicationFrameworkSubset of Opera 3 dataPWX specific dataPayroll Self Service
Payroll Self Service
Pegasus Web Xchange Overview
Payroll Self Service
Payroll Self Service
Payroll Self Service
Payroll Self Service
Payroll Self Service
Payroll Self Service
Payroll Self Service
Payroll Self Service
Payroll Self Service
Payroll Self Service
Payroll Self Service
Payroll Self Service
Payroll Self Service
Payroll Self Service
Payroll Self Service
Payroll Self Service
Payroll Self Service
Payroll Self Service
Payroll Self Service
Payroll Self Service
Payroll Self Service
Payroll Self Service
Payroll Self Service
Payroll Self Service
Payroll Self Service
Payroll Self Service
Payroll Self Service
How much can you save? Depends on how you process your payslips Some Examples 50 Monthly Paid EmployeesAnnual Cost - 564Savings over 3 years - 448100 Weekly Paid Employees Annual Cost - 6,136Savings over 3 years - 16,570
Payroll Self Service
Future Enhancements Electronic P60sTimesheetsHoliday Requests & Authorisation
Payroll Self Service
Product Demonstration Videos
Product Demonstration Videos
Credit Management CentreRectify AllocationsLanded CostsRetrospective Debtors & CreditorsNotification ServicesPegasus DashboardsStocktakeOpen Period AccountingXRL Payroll Self ServiceProduct Demonstration Videos
RTIAuto-enrolmentPayrollSupply Chain CRMPegasus Construction Industry SolutionsPegasus SoftwareThank you
Pegasus Software