Legal news
Pension Scheme Auto Enrolment - 3rd January 2012
Auto-enrolment: new employer pension duties
New laws coming into force in October 2012 will require all employers in Great Britain to automatically enrol eligible jobholders into a pension scheme. The new duties will be formally implementing over 4 years starting on 1st October 2012, with larger employers, with more than 30,000 employees, being affected before smaller employers and new businesses. Those employers with 350 more employees will have to auto-enrol in 2013 and those with 250 employees or less from 2014.
These obligations will mean that new systems will need to be put in place across every business to ensure compliance and this process will take time.
If employers do not comply then the Pensions Regulator has the ability to issue warning notices and penalties. They also have the power to prosecute in the worst cases.
We will be holding a seminar later in the year to explain the new scheme in more detail. If you would like to register your interest in this seminar, please email cberry@pwhmllp.com
