- Know your Staging Date
If you’re already set up and using Paycircle, we’ll know your Staging Date. We’ll send you reminders by email and post notifications in your Dashboard area to make sure that you don’t miss it and that you have everything set up and ready in good time.
- Assess your team
If you’re already set up and using Paycircle, we’ll assess your team automatically. To get a feel for who might be eligible, even before you assess your team for the first time, head to the Cost Calculator area in the Pension section within the app. You can even download a report detailing everyone’s potential enrolment status and estimated contributions each pay period.
- Check your team’s details are up-to-date
If you’re already set up and using Paycircle, we’ll have up-to-date information on all of your team members. When people register for their Paycircle portal, we make sure that we have their most recent address and also get them to check that their personal details are correct. The most you have to do is remind people to register for Paycircle, if they haven’t done so already.
- Decide the best way to communicate with your team
Assuming all of your team are on email, job done. Paycircle sends all important communications via email and puts all essential information in people’s portals, which keeps everything in one easy to access place. There’s also an option to download and print communications, on the rare occasion that you need to.
- Check your existing company pension
Paycircle will remind you to do this but we can’t do this bit for you sadly.
If you already have a company pension in place, you might want to check that the existing scheme is compliant for automatic enrolment. The best way to do this is to ask your pension provider. If it is, you may want to consider using your existing scheme for all of your employees – or you can set up an additional scheme for automatic enrolment. We’ll make sure that anyone who already has a pension gets excluded, unless you tell us otherwise.
- Choose a workplace pension provider
This is also something that we can’t do for you, but we’ll remind you that you need to do it. We suggest using this pension comparison tool, which identifies all of the main providers who offer a compliant workplace pension. Make sure you select Paycircle as your payroll software provider in the options to pick one that we can connect to automatically.
- Have a compliant pension in place by your Staging Date
Once you’ve chosen a provider, this next bit is easy peasy. Setting up a workplace pension with Paycircle can take as little as five minutes. We will guide you through the process, there’s really nothing to it!
- Choose whether to stage or postpone assessment
You can postpone the assessment of your team for up to three months from your Staging Date. If you do decide to postpone, you simply check a box within the app and Paycircle will take care of everything behind the scenes.
- Choose whether to use other postponement options
There are other situations where you can choose to postpone assessment of individual team members, such as when someone new joins your company or when someone’s enrolment status changes. You can set these options when you set up your pension scheme and then forget about it as Paycircle will manage everything from then on.
- Prepare your team
You can send your team members an intro email (templates provided by us) whenever you fancy through the Comms Centre in the Pension area of the app. If you don’t want to or you simply forget, Paycircle will send everyone a introduction email on your Staging Date. This isn’t mandatory for compliance but we think it’s a nice thing to do!
- Register with The Pensions Regulator
Again, sadly, this isn’t something we can do for you but its also not mandatory either. If you do want to do it and you’re not sure how, read our guide to Registering with the Pensions Regulator.
- Don’t do anything that could be regarded as ‘inducement’
Ok, we can’t stop you here but it is rather important that you don’t do or say anything which could be seen as inducing your team members to opt out or dissuade them from opting in. This includes your existing team members as well as any new recruits or people you are interviewing. The Pensions Regulator take a very dim view of this and may take action against you.
- Check that your systems are compliant
No need, if you are using Paycircle, they already are. That’s an easy tick in that box.
The first assessment
- Automatically enrol anyone who is eligible
Paycircle does this automatically and tells you when it’s done. Check your Dashboard for updates or head to your Team area in the Pension section in the app to see who’s been enrolled at any point in time.
- Invite others to opt in or join
Paycircle also does this automatically for you and tells you when it’s done. Check your Dashboard for updates or head to your Team area in the Pension section in the app to see who’s been invited at any point in time.
- Send and keep records of communications to your team
Big tick in this box. Head to the Comms Centre in the Pension area with the app where you’ll be able to track and view all communications that are sent to your team members.
- Calculate the correct contributions
Done. Paycircle knows how to calculate the correct contributions for any pension that we link to automatically.
- Send information to the pension provider
Done. This is done automatically whenever you approve your payroll.
- Pay contributions to the pension provider
Assuming you set up a Direct Debit with the pension provider when you set up your pension, this will also happen automatically, normally on or around the 19th of each month. To check your contribution amounts you can download a pension report after you have approved your payroll. We also post headline numbers in your Dashboard area.
- Know when the ‘opt out’ period ends
Paycircle knows automatically when people’s opt out periods are coming to an end. We’ll remind people for you and make sure that people know when and how they can opt out if they want to.
- Manage opt outs, opt ins and joiners
Paycircle manages these in most scenarios, we’ll make sure that they complete the correct notifications for compliance and store the records in your Comms Centre. Where people need to opt in or out directly with the pension provider (varies for different providers), we will guide them through the process and make sure everything is in order from a compliance perspective.
- Keep records of all communications received from employees
Everything you need is stored in your Comms Centre. On the rare occasion that someone hands you a paper notification, you can upload it into your Comms Centre and process the request manually. Our support team are always on hand to help with anything that needs actioning manually.
- Complete Declaration of Compliance
No need, this is done automatically and a confirmation will appear in your Dashboard and in your Activity Log.
- Calculate, deduct and pay correct pension contributions every pay period
You may be getting into the swing of this now – this is all done automatically. Paying the contributions is still your responsibility but assuming that Direct Debit is still set up with the pension provider, it’s all good.
- Constantly monitor eligibility for automatic enrolment
Done. Of course, you’re still responsible for making sure that Paycircle is up to date from a payroll point of view and that all the data is correct – but other than that you can relax totally.
- Send communications when anything changes and keep records of communications
Done. Just check your Dashboard for updates and everything you need is stored safely in your Comms Centre.
- Manage and process opt in, joiner, opt out and cease active membership requests
As before, Paycircle manages these in most scenarios, we’ll make sure that your team completes the correct notifications for compliance and then store the records in your Comms Centre. Where people need to manage things directly with the pension provider, we will guide them through the process and make sure everything is in order from a compliance perspective.
- Refund contributions when employees opt during opt out window
This is done automatically through the payroll process. You obviously need to do the refund part but we will tell you who, when and how much, so you can put the calculator away.
- Manage new joiners and people leaving your company
When someone new joins the team, you need to decide if you want to postpone their assessment or assess them straight away, other than that, everything else is done automatically. When someone leaves, Paycircle notifies the pension provider as soon as you process their P45.
- Carry out re-enrolment every three years
We’ll remind you when this date is on the horizon but other than that, we’ll take care of everything. Just check your Dashboard and Comms Centre for updates.
- Complete a Declaration of Compliance every three years
No need, this will be done automatically and a confirmation will appear in your Dashboard and in your Activity Log.
An article by Catherine Pinkney.
Posted on Sunday 26 Mar, 2017March 28, 2017