Workplace Pension Reforms
What are the new forthcoming Employers Duties?
October 2012 will see the introduction of major pension reforms which affect every employer in the UK. For more information click here.
The Basics
The new employer duties are planned to come into force from 1st October 2012. Under these duties, employers will have to carry out various tasks. For more information click here.
When will auto-enrolment affect me?
Although auto-enrolment comes in from 1st October 2012, individual employers’ own duties will be gradually introduced over the following four years and will be based on the size of the employer, typically by PAYE size. However, you need plenty of time to get prepared.
Please click here to learn when this will affect you.
Few employers will be Auto-Enrolment Exempt
Click here to find out if you are exempt.
What will employers need to do?
If you think you’ll have one or more Eligible Workers when your auto-enrolment duty begins, click here.
What are the Minimum Contribution Levels for employee and employer?
If your company already offers a Defined Contribution (DC), Personal Pension, Money Purchase, SIPP or Stakeholder Plan there must be a minimum contribution level,which depends on the scheme definition of pensionable salary. Click here for further information.
What happens if I do not set up a Qualifying Scheme?
Financial Penalties are expected to be imposed on employers that do not meet the Automatic Enrolment Regulations. Click here for further information.
