Making auto-enrolment happen
We have been working with organisations prior to the introduction of auto-enrolment to ensure they were ready and support them in ensuring they are compliant.
Money Observer comments “Almost three-quarters of employees now contribute to a workplace pension with 73 per cent of UK employees enrolled in 2017 – up from fewer than 47 per cent in 2012.Much of this rise is down to the introduction of auto-enrolment. Since October 2012, more than 9.5 million people have been auto- enrolled through this process.
Auto-enrolment is a government initiative to help more people save for later life through a pension scheme at work. Employees no longer have to sign any forms to join their firm’s workplace pension scheme as this is done automatically by their employer for eligible workers. The employer must also pay money into the scheme.
Employees are eligible for auto-enrolment if they’re at least 22 years old, not yet of State Pension Age and earning at least £10,000 a year. In the past, many workers missed out on valuable pension benefits because their employer didn’t offer them a pension, or they didn’t apply to join their company’s pension scheme. Auto-enrolment changes this.” Read the full article