Timetable for introduction of pensions auto-enrolment finalised
The Employers' Duties (Implementation) (Amendment) Regulations 2012 have been laid before Parliament, finalising the timetable for the introduction of auto-enrolment for smaller employers.
The Regulations set out that employers with fewer than 50 workers will not be subject to the duty to auto-enrol qualifying workers into a workplace pension scheme until June 2015 at the earliest. The Regulations also include provisions:
- setting out that the increase in minimum employer contributions from 1% to 2% for defined contribution schemes will now occur from 1 October 2017 (previously from 1 October 2016); and
- extending the transitional period for defined-benefit and hybrid schemes to 30 September 2017, to align it with the extension of the transitional period for defined contribution schemes.
A consultation on the proposed changes ran from 23 March 2012 until 4 May 2012, and the government response was published on Friday 13 July 2012.
- Revised implementation proposals for workplace pension reform - government response to consultation (PDF format, 54K) Read the response to the consultation on the DWP website.
- The Employers' Duties (Implementation) (Amendment) Regulations 2012 (PDF format, 33K) Read the Regulations on the DWP website.
Also
Pensions auto-enrolment: Prepare for pensions auto-enrolment XpertHR Liveflo guides employers through the practical and legal issues involved in preparing for their organisation's pensions auto-enrolment staging date.
The XpertHR FAQs section provides answers to questions about pensions auto-enrolment, including:
- Will auto-enrolment affect small employers?; and
- How much must employers and employees contribute into their pension scheme under the pensions auto-enrolment provisions?
The XpertHR quick reference section includes tables showing auto-enrolment staging dates.