Johnson Fleming urges businesses to audit their auto-enrolment schemes

Independent workplace pensions and employee benefits specialist Johnson Fleming is warning that employers face greater scrutiny from the Pensions Regulator as more and more employers reach their auto-enrolment staging date.
Iain Chadwick
Iain Chadwick

With legislative changes such as alterations to defined-contribution (DC) pensions already reshaping the landscape for firms stepping into the unknown of the ‚Äėsecondary market‚Äô, Johnson Fleming believes this is the ideal time for businesses to be auditing their scheme.

Describing auto-enrolment staging as ‚Äėthe tip of the iceberg‚Äô for employers, Johnson Fleming says employers now face growing pressure from the governing authority to avoid breaches and ensure the ongoing auditing and compliance of qualifying pensions.

Recognising that little support has been made available for HR, pensions and payroll professionals tasked with negotiating the minefield of scheme governance, Johnson Fleming has launched the second in a series of auto-enrolment and re-enrolment guides.

‚ÄėHow to‚Ķaudit your auto-enrolment scheme compliance‚Äô

‚ÄėHow to‚Ķaudit your auto-enrolment scheme compliance‚Äô is an in-depth yet accessible read that acts as a pensions health check for businesses.

Outlining key areas professionals should be reviewing to ensure compliance, identifying common areas where breaches unwittingly occur, and providing a helpful auto-enrolment auditing compliance checklist, the guide is designed to demystify the imposing task.

Iain Chadwick, consultancy director at Johnson Fleming, said: ‚ÄėAs more and more companies pass through the ‚Äúlooking glass‚ÄĚ that is the auto-enrolment staging date, there‚Äôs no doubt that understanding how to establish an effective and ongoing auditing and governance process is essential knowledge for all involved.

‚ÄėThe Pensions Regulator has started to bare its teeth and has already issued notices to companies relating to unpaid contributions.

‚ÄėThe changes to DC will soon start to come into force so there‚Äôs no doubt that if you haven‚Äôt completed an audit of your auto-enrolment compliance before, now is the time to do it.

‚ÄėWhile the Pensions Regulator will take notice of breaches in your scheme, it is more likely to be interested in how you acknowledge and rectify them.‚Äô

Comprising four key chapters covering ‚Äėthe communication processes‚Äô, ‚Äėthe auto-enrolment scheme‚Äô, ‚Äėassessment and contribution processes‚Äô and ‚Äėscheme certification‚Äô, Johnson Fleming‚Äôs guide will act as a useful tool and solid reference sheet for HR, payroll and pensions professionals.

Click on the link below to download the guide