Processing Automatic Enrolment

Auto Enrolment will affect all employers. Businesses who employ at least one employee will need to comply with the automatic enrolment law. .

How will auto enrolment affect you?

If you are a business who employs at least one employee, then the auto enrolment law is likely to affect you and your employees. In 2017, Taoiseach Leo Varadkar announced that all employees will be auto enrolled in a pension scheme in just over three years. Varadkar has announced that the auto enrolment pension reform will take place by 2021.

 "This issue has been long-fingered for too long, and now that the economy is recovering strongly we must act decisively, and we will publish a five year roadmap for pension reform before the end of the year.”


Contributions are likely to be based on a percentage calculation where the employer will contribute a percentage of the employee’s earnings and the State may also contribute a percentage. The finer details of how this will all work are yet to be finalised.

 

How will auto enrolment work in the UK?

The UK rolled out auto enrolment in 2012. Ireland is looking to the UK as a model of how to roll out the pension reform. The Irish government will also look to learn key lessons from the mistakes that the UK made in implementing auto enrolment. In the UK, auto enrolment has been a relatively straightforward process for employers who utilised payroll software to carry out the employer tasks. For employers who used manual processes or basic payroll products that didn’t have auto enrolment functionality, the process was more complicated and prone to errors.

 

The auto enrolment process in the UK

 

Sound complicated?

With Thesaurus Payroll Manager it’s simple. Auto enrolment is easy once you utilise the correct payroll software tools to automate the administrative tasks. We have the experience to guide you through the process. Thesaurus Payroll Manager will offer auto enrolment functionality at no additional cost. All Thesaurus payroll packages will include auto enrolment plus free phone and email support to help you through your auto enrolment journey. 

 

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