Xero have released stage one of their auto enrolment features within payroll. Xero’s aim is to help their business customers and their advisors to stay compliant with the regulations.
- Enter & store business staging date. This is the date you automatic enrolment duties come into effect.
- You can select a Workforce Postponement date- This allows employers to postpone automatic enrolment assessment for up to three months of their staging date but it doesn’t mean your staging date changes. During this time you still have to accept any opt in notices. All staff must be written to if you chose to postpone.
- You are able to manage each employees’s workplace pension and autoenrolment settings. Including things such as individual postponement date and their State Pension Age retirement. Dates and settings are also managed.
- You are able to enter pension provider information and pension information. Payroll in Xero support Net Pay Arrangement and Relief at Source- which are both two types of pension schemes.
After the staging date has been reached, Payroll in Xero will automatically start to assess the employees and auto enrol if they meet the requirements. Factors which are taken into account are wages information, age and state pension age.
Xero have worked with The Pensions Regulator to obtain the staging dates of many of their payroll customers. The Pensions Contribution Report will be released in March to help businesses to see what contributions have been deducted from payroll in a given period.
If you are finding auto enrolment daunting then please call our Manchester offices for more advice or help speak to a member of our team on 0800 020 9542 or email hello@JacRox.co.