We are delighted to share Husky’s partnership with Vested to provide them with our workplace pension admin and compliance solution and services.
Since its introduction in 2012, the UK’s workplace pension legislation has resulted in over 10.2m workers being enrolled into an Auto-Enrolment workplace pension scheme. Whether employers conduct payroll and AE administration tasks internally or outsource them, industry experts have expressed concern that as many as a quarter of UK businesses aren’t fully compliant with the legislation. The TPR Annual Report (2019 – 2020) states that over 33% of employers have been subject to a risk-targeted intervention by The Regulator and 48,000 fines have been issued for AE non-compliance.
Husky will provide Vested’s clients with ongoing AE support to employers and their payroll teams, by undertaking worker assessments, statutory communications, managing opt-in and opt-outs, and submitting pension contributions through automation. Husky will also provide monthly compliance checks, audit trails and a remedial support service for employers who may have got into difficulties.
You can read the press release here.