Auto Enrolment Settings
Within the Settings page, you can manage company enrolment and assessment periods.
Users can still manage pension enrolment within the Employee profiles. That said, this feature allows users to set default pension groups and postponement rules to facilitate the bulk enrolment of pensions.
In addition, the reassessment dates will be utilised to ensure payroll cannot be issued if this has expired without qualifying pension schemes being set in place.
Automatically Refund Pension Opt-Outs
Buddy provides an option to automatically refund pensions on opt-outs.
This can be customised to be set between 1 and 6 months of enrolment. Any pension which had been enrolled for longer than 6 months before the pay period can no longer be refunded.
What is the Reassessment Date
Every three years, companies are required to re-assess the employees' enrolment.
This means that employees who are eligible and have opted out will be opted back in, either immediately or within 3 months if this is postponed.
Employees would then still be able to opt out again. The cycle continues once the company re-assess the pension schemes in the following three years.
AutoEnrolment Options
You can enable the two following options with regard to auto-enrolment:
- Automatically Enrol employees into the pension scheme if they meet the Auto Enrolment criteria
- Automatically send Auto Enrolment Letters upon generation (not yet available).