Things needed:
- PAYE reference number i.e. first need to register as an employer with HMRC.
- Staging date: date when first member of staff starts work.
Next:
- Choose a pension scheme
- Write to staff: use pension regulator’s draft letters. See note 1 below
- Declare compliance to pension regulator.
Note:
1. Currently we use Moneysoft payroll manager and send Postponement letter to all staff.
2. Tax relief on pension: Relief at source or net pay
3. Employee often ask – How do i transfer my old pension to the new employer?
3. Please use pension regulator’s website for more information. http://www.thepensionsregulator.gov.uk
Roy Accountants 