With major changes to workplace pensions coming into effect this month, now is the time to ensure your payroll processes are up to date.
The minimum contributions for employers and employees have changed as follows:
- employer contribution of one per cent of pay doubling to two per cent.
- employee contributions triple from one per cent to three per cent.
Failure to pay the National Minimum Wage (NMW), National Living Wage (NLW) or make the correct level of contributions to workplace pensions all attract substantial penalties – and lead to your company being publicly named and shamed.
Outsourcing payroll offers businesses wide-ranging benefits, freeing up time and resources that can be invested in growing the business.
Contact our experienced payroll team at Haslers today to find out how we can support your business with payroll management.