19 November 2007
Following an announcement by Minister for Pensions Reform, Mike
O'Brien, the Pensions Regulator will monitor personal accounts,
when these are introduced in 2012.
People earning more than £5,000 a year will be
automatically enrolled into a qualifying work-based pension scheme
or personal accounts, subject to Parliamentary approval of reforms
to be published in a forthcoming Pensions Bill.
As the regulator for all work-based pension schemes, the
Pensions Regulator will monitor personal accounts as a whole, as
well as ensuring that employers meet their obligation to
automatically enrol their employees into a good workplace pension
scheme.
