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January, 2013

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Posted by staples in General

From 2012 changes to pensions law will affect every employer in the UK in order to help more people save for retirement. If you are an employer you must comply with the law which will mean that you must automatically enrol certain members of your workforce into a pension scheme and make a contribution towards the pension fund. The scheme must be a scheme suitable for automatic enrolment, and it must meet certain minimum qualifying standards.

A new pension scheme, NEST (National Employment Savings Trust) has been established which is available to any employer who chooses to use it. This will enable all employers to provide a pension scheme for their workers using NEST or, where the scheme meets the necessary requirements, their own scheme or another pension provider.

Payroll administrators will be able to assist employers in meeting the obligation to ensure that certain members of the employer’s workforce are automatically enrolled into a suitable pension scheme and make sure that (employer and employee) contributions are paid to the scheme in respect of those members.
If you are an employer you must understand your obligations in respect of

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