What is Re-Enrolment?
Why do I need to go through re-enrolment?
How do I know when I need to complete re-enrolment?
This article will explain what re-enrolment is, why it has to be done and when it has to be done by.
For instructions on how to complete re-enrolment on PayFit head to this article.
What is Re-Enrolment?
Re-enrolment is the process in which you must re-enrol certain employees who have left your companies pension scheme, this happens every three years. Part of the re-enrolment process is submitting a declaration of compliance which you can find more about here.
Why do I need to go through re-enrolment?
Auto-enrolling eligible employees into a workplace pension scheme is one of your legal duties as an employer. Re-enrolment ensures that employees are given the chance to add to their lifetime savings pot. Regardless of whether you need to re-enrol any employees it a legal obligation for you to complete a re-declaration of compliance to inform TPR (the pensions regulator) that you have met your legal duties. Failure to act on this legal duty could result in you receiving a fine.
How do I know when I need to complete re-enrolment?
Re-enrolment occurs every 3 years from your staging date.
Your staging date (also called duties start date) is the date that your employer duties come into effect. This is also the day your first member of staff starts work. If you are unsure of this date you can typically find it on you pension account or your pension provider will be able to tell you if you cannot find it.
You have a 6 month window to complete your re-enrolment. The window starts 3 months prior to your 3 year anniversary and finishes 3 months after your 3 year anniversary.
This timeline repeats every 3 years.
Please follow these instructions to allow PayFit to remind you when you next need to complete re-enrolment.