Workplace pension reforms - employer duties
The main requirement is that you need to automatically enrol eligible jobholders into a qualifying workplace pension scheme and make minimum pension contributions on their behalf. Are you comfortable you know what this all means?
Automatic enrolment becomes compulsory for the largest firms in the UK on 1 October 2012. You will have your own particular staging date. Do you know when yours is?
That is just one part of the new employer duties. You also need to:
- understand who your workers are
- split them between the new, specifically defined categories of worker - 'eligible jobholders', 'non-eligible jobholders' and 'entitled workers'
- make sure you have a qualifying pension scheme, or use NEST
- assess the financial impact of auto enrolment on your business
- implement auto enrolment and automatic re-enrolment
- facilitate opting in, joining and contractual enrolment
- manage opt-outs
- provide workers with required information within prescribed timescales
- keep accurate records and monitor individual worker details at all times
Find out how confident you are by taking the auto enrolment Brisk Assessment or see how Jelf can help.
For more information or to arrange a review
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