Latest news on Auto-Enrolment


Steve Woodham, Pensions Manager


The Department of Work and Pensions have recently provided an update on their automatic enrolment timetable which will see smaller employees delay the date from which they have to auto-enrol staff into a relevant pension scheme.


As you may be aware from our previous articles, each employer has a ‘staging date’ – that is to say a date from which they have to enrol staff into a pension scheme and this is based upon the number of PAYE


employees that they have. For the smallest businesses, those with under 50 employees, this date is now being pushed back from April 2014 to May 2015.


Whilst small employers may see this delay as a welcome boost and providing them with breathing space before implementing a relevant pension scheme, the Government has signalled their firm intention to push through the legislation as they try and make individuals take ownership of their retirement income rather than being solely reliant upon the State in old age.


If you are an employer and would like a comprehensive review of the legislation and how it will affect your business please speak to your usual Old Mill contact.


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