Timetable for small firms confirmed
Pensions minister Steve Webb has confirmed the dates by which small firms will have to auto-enrol their staff into a pension scheme. Auto-enrolment, in which employees will be entered into a pension scheme unless they actively opt out, comes in for the largest employers in October this year and then on a staged basis for progressively smaller companies after that. However, last November the government announced it was rethinking the dates for smaller employers in response to concerns about burdening businesses during an economic...
read morePensions bill approved
Employers will have to automatically enrol their workers in a company pensions schemes after the Pensions Bill was approved this week. Under the Pensions Act, workers will make automatic pension contributions, although they can choose to opt out if they so wish. Scott Pendry, Policy Advisor at the Recruitment and Employment Confederation (REC), said that the announcement is an “important milestone”. “Although the changes are being phased in and not all recruiters will be impacting in 2012, it is important to start getting...
read moreBad news for small businesses?
Im afraid there’s no way out. A decision has been made this week that all businesses will need to comply with the new pensions legislation Pensions minister Steve Webb says no businesses will be exempted from auto-enrolment whatever the recommendations of a report on regulation of the Labour market. Read the full story (Source: Money Marketing): Webb: No change to auto-enrolment | News | Money...
read moreMore choice
It has taken a while but competition for the auto-enrolment pension market is starting to heat up. It looked like Nest would have the mass-market end of the auto-enrolment business to itself but the last few weeks have seen two providers launch into this section of the market……..
read moreGet ready now
More than 100 employers around the UK have agreed to enrol some of their staff in the new national top-up pension scheme known as Nest – the National Employment Savings Trust…… http://www.bbc.co.uk/news/business-15270701
read moreAvoid Confusion
Many employers wrongly believe that Nest and auto-enrolment are the same thing. There is confusion amongst many advisers over the government’s incoming auto-enrolment proposals, with many believing that the National .. http://www.ftadviser.com/FTAdviser/Pensions/News/article/20110825/c90e2832-ce5e-11e0-ae7f-00144f2af8e8/Advisers-confuse-Nest-and-autoenrolment-Scot-Life.jsp Source : FT...
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