Simplifying automatic enrolment
The introduction of automatic enrolment in October 2012 has required that employers enrol their eligible workers into a workplace pension scheme.
Since October 2012, the largest employers in the UK have been automatically enrolling their eligible workers into workplace pension schemes. Throughout there have been some difficulties in setting up processes required to make automatic enrolment run smoothly. The Government has been made aware of these difficulties and is proposing some solutions to make the process easier for all.
A consultation began in March 2013, looking at the Government’s proposals to make the process of automatic enrolment easier. Their proposals included:
- making it easier for employers to work out which of their workers should be enrolled and when;
- making it easier to check whether existing money purchase schemes meet the qualifying requirements, so that employers can use them to automatically enrol workers; and
- changing the rules so that people with protected high value pensions are not automatically enrolled and won't risk losing their protection.
Where can I find out more?
If you need more information, please contact us. A pension specialist from our team will be happy to help with whatever pensions-related question you have. Our help is always free.