Xero have recently introduced a new pension re-enrolment feature in Xero Payroll.
The new feature helps business owners save time and eliminate some of the administrative burden of pension re-enrolment.
What is pension re-enrolment?
As an employer in the UK, every three years you must assess any employees who have opted out of your workplace pension scheme and re-enrol them if they are eligible.
Even if you have no staff to re-enrol onto the scheme, you must still select a re-enrolment date and complete a re-declaration of compliance to inform the pension regulator of how you have met your obligations.
Remember, pension re-enrolment and re-declaration are an employer’s legal duty, and if you don’t act, you could be fined.
How will the new Xero Payroll feature help?
The automated pension re-enrolment feature will:
- Automatically assess and enrol employees onto your workplace pension scheme,
- Reduce manual processes and therefore errors; and
- Ensure secure integration with pension provides
Find out more including how to update your workplace pension settings by clicking here.
Get in touch
For any further information, help or advice with Xero, please do not hesitate to contact us on 01254 679131 or email cloudaccounting@pmm.co.uk.