A change in pension legislation means that every employer in the UK must now help their employees to save for their retirement. Known as ‘Workplace Pension - Automatic Enrolment’, the introduction of the legislation means that action is required by all employers to ensure they have a workplace pension scheme in place and that their scheme meets strict rules and standards.
For employers, 'auto-enrolment' - presents several challenges. For those with a pension scheme already in place, there will have to be a thorough audit, to assess whether their scheme meets the auto-enrolment rules. For those without a current pension scheme, it may be easier to ensure any new scheme is compliant, but there will certainly still be challenges in practical implementation and in informing employees exactly what they have been signed up for.
We have produced a brochure which can be downloaded by clicking on the link below. It provides a useful reference point for what could be a difficult time for employers, but please do get in touch if we can provide any further information or support about auto-enrolment and your obligations, or if you have any questions about any of the content we have provided here.
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