In this episode, Andy Nicholls explores the key pension responsibilities impacting pay professionals and what organisations must do to remain compliant.
The conversation includes a practical walkthrough of automatic enrolment requirements, highlighting common error areas and how to avoid mistakes while meeting the expectations of The Pensions Regulator (TPR). There's also discussion on managing re-enrolment effectively.
Andy outlines what payroll teams should have in place to demonstrate compliance, the documentation that must be retained and the steps that can be taken to reduce risk ahead of any audit conducted by TPR.
The episode also focuses on the importance of maintaining open communication and strong working relationships with pension scheme providers to ensure accuracy, efficiency, and ongoing compliance.
Tune into hear practical insights to help payroll professionals strengthen processes, maintain compliance and prepare for future developments in pensions.
Glossary
ACE = the CIPP's Annual Conference and Exhibition
AI = artificial intelligence
DWP = the Department for Work and Pensions
'EE and ER' = employee and employer
FCA = Financial Conduct Authority
GDPR = General Data Protection Regulation
HMRC = HM Revenue and Customs.
PLSA = the Pensions and Lifetime Savings Association,
RTI = real time information,
SSP = statutory sick pay.
Links
The CIPP's Annual Conference and Exhibition: https://www.cipp.org.uk/events/annual-conference-and-exhibition.html
The PSLA: https://www.pensionsuk.org.uk/
Pot follows person' information: https://www.pensionspolicyinstitute.org.uk/media/jkllh5ah/20200922-small-pots-working-group-guide-to-booklet-final.pdf
https://www.cipp.org.uk