This course highlights employers' challenges, responsibilities and obligations to all parties involved with pensions and auto-enrolment, to enable compliance.
Materials will be released in advance of the course and will be available to you through the CIPP online learning platform.
Why should you attend
The introduction of auto enrolment has significantly increased the primacy and complexity of administering pension contributions as part of the payroll function.
From providing a detailed explanation of the numerous types of pension schemes currently in operation, this course moves to cover the various tax treatments of employee contributions and the various points payroll staff must consider calculating contributions accurately.
From this, a detailed explanation of the rules and regulations concerning auto-enrolment is imparted as are the potential penalties for non-compliance with this new statutory requirement.
You will leave this course equipped with the knowledge and skills to administer this vital and much-changed arena.
What you will learn
This illuminating course explains the legal and payroll-related implications of the planning and introduction of auto-enrolment and re-enrolment for pensions, as well as highlighting why an arrangement may or may not be effective or successful.
By the end of the course, you will be able to:
- Identify types of pension schemes
- Make basic pension contribution calculations
- Carry out worker assessments for automatic enrolment of pensions
- Handle worker choices under the automatic enrolment duties
- Handle automatic re-enrolment
- Comply with automatic enrolment information and reporting requirements
- Identify features of a pensioner payroll
You will understand your employer's responsibilities towards the various statutory bodies including HMRC, the Department for Work and Pensions and The Pensions Regulator. The focus is on the implications for employers and employees with particular emphasis on payroll processing and procedures.
Summarising the variety of pension schemes.
- Classify the types of pension scheme by sponsor, tax registration and pension benefit categories.
- Identify pension schemes compliant with auto enrolment requirements.
Types of pension schemes
- State pension schemes
- Personal pension plans
- Occupation pension schemes
- Stakeholder pension schemes
- Auto enrolment qualifying schemes
- Key facts
- Implementation and staging
- Affected workers
- Postponing the auto enrolment
The automatic enrolment processes
- Assessing qualifying earnings
- Opting in and joining the scheme
Contributing to the pension scheme
- Level of contributions
- Amount and frequency of contributions
- Additional voluntary contributions
- Refunding contributions
The implications on Tax
- Obtaining tax relief on contributions
- 0020Tax relief and charges on pension savings
- Taxation of pensions annuities
Implications to Payroll
- Membership of occupational schemes
- National insurance contributions
- Effect of contributions on attachment orders
- Dealing with absences from work
Automatic enrolment and TUPE
- Giving information
- Information for workers for what both enrolled and not enrolled
Auto enrolment compliance
- Record keeping
- Enforcement options
Penalties and reviews of compliance
Prior learning required
Either completion of the Payroll Technician Certificate, introduction to payroll courses, or attainment of an equivalent working knowledge through experience in either a payroll or HR role.
Continuing your learning
Creating a Payroll Procedures Manual
The inclusion of auto-enrolment processes is just one of the broad arrays of tasks and obligations that Payroll Supervisors and Managers must incorporate into their procedural documentation.
This course covers the theory and practicalities that need to be considered when designing a procedures document that all payroll departments need to ensure all statutory and contractual obligations are managed efficiently and professionally.
Salary sacrifice and optional renumeration
Pensions are often offered through salary sacrifice. Valid salary sacrifice schemes have several, often poorly understood rules which must be followed to avoid potentially large tax and NIC underpayments charged by HMRC.
This half day course explains the legal and payroll-related implications of salary sacrifice schemes and other optional remuneration arrangements which enables delegates to understand how to ensure their organisations remain compliant in this genre.