Auto-enrolment hits medium sized employers
At the turn of the year, over two million workers have begun pension saving as a result of automatic enrolment and more than 3,600 of the country's largest employers have registered as having complied with the new duties.
The focus now shifts to medium sized employers, with all employers of between 50 and 250 workers reaching their staging dates between April 2014 and April 2015. The Regulator recommends allowing between 12 and 18 months to prepare for auto-enrolment so it is vital that such employers take action now to ensure compliance and smooth transition to the new regime.
- Advising one of the first employers to stage for auto-enrolment on all aspects of implementation, contract reviews and employer duties.
- Advising leading financial services client on all aspects of auto-enrolment from initial strategy stage through to implementation.
- Advising various pension scheme trustee boards on rule amendments required in order to implement auto-enrolment.
- Updating employment contracts and salary sacrifice agreements to align with employers' introduction of auto-enrolment.
- Advising leading chartered accountancy firm on use of 'contractual enrolment' as a means of implementing auto-enrolment, including advice on the employment law aspects of contractual variation and the use of salary sacrifice as well as wider implications for employee benefits.
- Advising leading international actuarial and employee benefits consultancy on their clients implementation of salary sacrifice and flexible benefits arrangements in conjunction with auto-enrolment for pension saving
If you would like to find out more about automatic enrolment and how we can support you in meeting your duties under the new regime, please contact one of the team.