Welcome to the first edition of the Workers Pension Trust Employer Newsletter which brings you the latest news from the Scheme and updates on auto-enrolment.

Workers Pension Trust celebrates major accreditation

We are delighted to announce that in February 2017 Workers Pension Trust achieved the Master Trust Assurance Framework quality standard and is the first local pension scheme to receive this recognition.

Workers Pension Trust obtained independent Master Trust Assurance from Assure UK with no exceptions noted and is one of the first Master Trusts in the UK to report under the new framework. To receive the aspirational quality stamp, schemes must meet stringent criteria and adhere to best practice procedures.

Business Development Manager at Workers Pension Trust, Iain Ferguson, explains: “We have been working towards Master Trust Assurance for the past year and we are proud to be the first local scheme to receive this recognition.

“We have been operating a pension scheme for businesses since 1982 and were able to draw on 35 years’ experience to develop a locally based scheme which complies with auto-enrolment legislation and is open to all companies. We have the knowledge and experience to guide employers through every step of the process. This accreditation is further confirmation that our governance and administration are second to none.”

Iain continues: “At Workers Pension Trust, we have worked hard to align our processes with the requirements of Master Trust Assurance. This is the pinnacle of accreditations in the industry and we will be audited annually to ensure that we continue to comply with its requirements.”

Workers Pension Trust is listed on the Pensions Regulator's website, along with approximately 15 schemes across the UK which have attained the Master Trust accreditation.

Workers Pension Trust hits the 35,000 mark

Since launching in 2012, Workers Pension Trust has auto-enrolled over 35,000 employees from 2500 employers.

Business Development Manager, Iain Ferguson said “We are delighted with the success of the scheme to date; 35,000 members is a significant milestone for us. We will continue to work hard to build on that success by improving our services to both employers and members”.

Employer Feedback

Workers Pension Trust recently conducted an employer satisfaction survey to obtain feedback on the customer service provided by the team and the ease of use of our web portal. 125 employers participated in the survey.

We are pleased to report that 98% of the employers that had contacted us by phone were happy with the service the team provided.

With regard to use of our web portal, 94% find it straightforward to use, whilst 6% reported some difficulties. We have had some useful comments and suggestions from employers and will use this feedback to continue to improve our service.

Contribution Increases

By law minimum contribution levels for automatic enrolment are increasing. The increases are planned in two phases from 6 April 2018 and then again in April 2019.

Employers will need to start thinking about the increases early and plan ahead for when they come into effect from 6 April 2018 and 6 April 2019.

We recommend that you check with your payroll provider to make sure that they are ready to calculate and deduct the increased contributions when they rise from 6 April 2018 and 6 April 2019. If you are not prepared for the increases, the right amount may not be paid across to the Scheme on time.

Please note that originally the first phase of the increases was due to start from October 2017. However, in April 2015 these dates were changed by the government to start from 6 April 2018.

The Pensions Regulator steps up spot checks on employers

The Pensions Regulator has reported that spot checks are to be carried out on employers across the UK to make sure they are complying with their workplace pensions duties. The spot checks are to investigate non-compliance, help employers get back on track or take enforcement action where necessary. The inspections serve as a warning to employers that they cannot ignore the workplace pension and that deliberate non-compliance will not be tolerated. Full details of the press release can be found here.

Are you ready for re-enrolment?

When it’s time for you to re-enrol, make sure you are prepared. Our 5-step guide to re-enrolment can be found here.

In brief, every three years on the anniversary of your staging date you will be required to:

• Check whether any employees who are not in a workplace pension scheme need to be re-enrolled
• Re-declare compliance with The Pensions Regulator to show you are continuing to meet the government’s workplace pension regulations

Proposed AE thresholds for 2017/18

The new threshold values for the next tax year have just been announced, but are subject to parliamentary approval.

Automatic enrolment letters available in different languages

The Pensions Regulator has now provided translated versions of their automatic enrolment letter templates. Employers may use these letters to write to their staff to explain how automatic enrolment applies to them. Translations are available in Bulgarian, Chinese (Mandarin and Cantonese), Latvian, Lithuanian, Polish, Romanian, Spanish and Welsh. Click here to view.

We hope you found this Newsletter helpful. If there are any items that you would like to see covered in future issues please let us know using the contact details below.