Law surrounding Workplace Pensions has changed significantly in response to a number of trends, namely that on average people are living longer and that approximately 7 million people in the UK are not saving enough for their retirement.
Automatic Enrolment has been introduced by the Government to help more people save for their future retirement provision, through their workplace. For the first time in history, employers have been required by law to set up a Pension Scheme and fund employer contributions for their workforce. Automatic Enrolment has been recognised as an effective way to overcome people’s saving inertia by turning the default from non-saving into saving.
Without a doubt, the introduction of Automatic Enrolment Workplace Pensions will present a number of new challenges to your business. You will need expert help and support to understand the impact and changes that you will need to make within your business in order to comply with your Employer Duties. Automatic Enrolment Solutions Ltd is dedicated to providing Workplace Pension Solutions for employers of all sizes throughout the UK.
Under the Pensions Act 2008, every employer in the UK must put certain staff into a workplace pension scheme and contribute towards it. If you employ at least one person you are an employer and you have certain legal duties.
It’s important that you understand what to do and by when, so you can meet your automatic enrolment duties on time.
Your legal duties begin on the day your first member of staff starts work. This is known as your duties start date. Even if you think you won’t need to put your staff into a scheme, you’ll still have duties.