Pension Auto Enrolment is coming...are you and your business prepared?
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Event Starts: Thursday the 30th of August 2012 at 08:30 Event Ends: Thursday the 30th of August 2012 at 09:30
To encourage more people to start saving for their retirement, as early as possible, employers will be compelled by law to enrol, and re-enrol, their workers into a company pension to which they must both contribute.
Nothing to do with pensions is ever simple or inexpensive, and auto-enrolment is no exception. This new legal duty will be phased in from October 2012. The DWP estimate that between nine and ten million workers will be affected.
Many employers do not know how this will affect them, are not prepared for the administrative burden this reform will generate, and are underestimating how long it will take to put processes in place to ensure compliance.
How are you going to pay for the compulsory employer contributions?Will these costs have a bearing on your pay negotiations, and do your employees understand the benefit of the costs they will incur themselves?
Communication to the workforce will play a key part in these changes in preparing for roll-out to ensure smooth administration.
If you want to understand in more detail how these changes might impact your business, attend our free seminar that we are holding at our Fulwood office on Thursday 30th August 2012 at 8.30am and will finish no later than 9.30am. Registration is from 8am and breakfast will be available from 8am onwards.
We have arranged for Ian Hill, Pensions Technical Manager from Torquil Clark who will cover the legal issues, including assessing eligibility, managing enrolment and re-enrolment, and dealing with opt-outs. All the areas you must think through in order to meet your new duties will be discussed.
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