Pension Auto Enrolment

Pension Auto Enrolment

Pension Auto Enrolment. Are you ready for it? The government have introduced new pensions legislation which will affect every employer and employee in the country. It’s called – Pension Auto Enrolment. For large employers the changes came into effect in October 2012, smaller companies are affected later.

The onus is on the employer to auto-enrol every qualifying employee into a pension scheme, either the government NEST or a suitable alternative. The basic contributions are 3% salary for the employer and 5% for the employee.

Pension Auto Enrolment

Get serious about Pension Auto Enrolment! There are serious fines for non-compliance to the rules

Further Reading:

Preserved Pensions and How Revaluation Works

For more information from The Pension Regulator Click Here

Please note: The Financial Conduct Authority does not regulate some aspects of auto-enrolment