Having mastered auto-enrolment using KeyPay’s simple live auto-assessment, enrolment and postponement features, you can sit back and relax, right? Not quite – there’s one last thing that you need to think about which is cyclical re-enrolment. This is one that catches a lot of employers out because unlike auto-enrolment it only happens every 3 years. With everything else you have to think about when processing payrolls, it’s easy to miss cyclical re-enrolment. Luckily, with KeyPay’s latest release, you only have to set your re-enrolment date once and KeyPay will help make managing cyclical re-enrolment a breeze.
Is Cyclical re-enrolment just another pension hoop to jump through?
Not really, let’s take a look.
Cyclical re-enrolment is due every three years (time flies and it’s easy to miss) and means that any employee that had previously opted out of your pension scheme must now be assessed, and if eligible enrolled into the scheme. If any employees have opted out within the last 12 months you have the option to include or exclude them from the assessment.
The cyclical re-enrolment window is based on your original duties start/staging date and you can flex this to either 3 months before or after that date.
Once completed you need to complete another ‘declaration of compliance’ with The Pensions Regulator.
So how does KeyPay help with cyclical re-enrolment?
Well I’m glad you asked.
Six months before your duties start/staging date you’ll see this friendly reminder in your business dashboard.
If you click on the link in the reminder it will take you to the Pension Settings screen, you can then enter the date of your re-enrolment.
Tip: Ensure you have your original staging date saved in the Pension Settings screen, without this we can’t give you any reminders. I mean we’re good but we’re not mind readers.
When you’ve entered the re -enrolment date you can tick the box to include employees opted out in the last 12 months and hit save.
KeyPay will track the date so when you create a pay run that hits the re-enrolment date any opted out employees will be re-assessed and yes you’ve guessed it, enrolled if eligible and enrolment letters applied.
Very nearly! Don’t forget your re-declaration, it’s a legal requirement to re-declare with The Pensions Regulator that you have complied with your cyclical re-enrolment duties.
When you have finalised your pay run you’ll get another message on your dashboard.
When you click the link in the reminder we take you to the re-declaration compliance checklist from The Pensions Regulator.
It’s a checklist of all the information you need to complete your re-declaration.
When you have collated and completed your checklist click ‘declaration of compliance’ within the reminder on the dashboard and you’ll be taken straight to the online re-declaration page of The Pensions Regulator website – ta dah!
KeyPay – making cyclical re-enrolment cool again.
Well thank you, we think so. So unless you want to have sticky notes or a plain old knot around your finger to remind you of that cyclical re-enrolment thingy, sign up to KeyPay, add your pension re-enrolment date and let KeyPay do the heavy lifting to keep your cyclical re-enrolment compliant.