Posts in Category: Auto-enrolment

Auto-enrolment arrives! 

Monday, October 01, 2012 4:40:00 PM Categories: Auto-enrolment

Automatic enrolment into a workplace pension, which starts for some today, will affect millions of people. The aim is to ensure that low and middle earners are provided with an addition to the state pension. However, the Institute for Fiscal Studies says some who might have saved more may stick to the minimum level.

For many workers, this will be the first time their employer has contributed to their pension savings. The pension employees derive from automatic enrolment is designed to complement both the state pension and any private pension saving.

Pensions Minister Steve Webb said: "The huge gap that we are trying to fill is [in] long-term pension saving. We have got half the workforce building up no pension beyond the state pension, and that is why this system is such a positive thing. You don't have all the hassle and complexity of choosing a pension. The firm chooses it for you, they put money in, you put money in, and then the only hassle is if you want to opt out," he told the BBC.

If you have any questions or would like to discuss how this affects you please get in touch.

Updated guides to Auto-Enrolment 

Monday, February 13, 2012 1:01:00 PM Categories: Auto-enrolment

Further to our blog entry from last week, The Pensions Regulator has now published an updated version of its guide to auto-enrolment duties for large employers and their advisers, reflecting changes brought about by the Pensions Act 2011 and recent regulations put before parliament.

This can be found here http://www.thepensionsregulator.gov.uk/pensions-reform/detailed-guidance.aspx

2012: the year of Auto-enrolment 

Monday, February 06, 2012 2:21:00 PM Categories: Auto-enrolment

The Government have brought in auto-enrolment as a way of encouraging people to save for their retirement through their workplace. This is the most fundamental change to pensions since the introduction of the Basic State Pension in 1948. Starting in October 2012, this is to be phased in, on a compulsory enrolment basis, for all employees earning over £7,475 per annum.

At our sister company, Whichers Employee Benefits, we have the solution to the compliance requirements alongside the provision of other employee benefits and can even save companies already using these benefits through our Jargonfree Benefits product. Please see our website www.whichersebs.com for further information.