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Auto-Enrolment & Personal Accounts: Summary of Proposals
Auto-Enrolment & Personal Accounts: Summary of Proposals
The Pensions Act 2008 includes the duty on employers to auto enrol “Eligible Employees” into a Qualifying Workplace Pension Scheme (QWPS). The duty is expected to begin from 2012, but may be staged according to employer size. A QWPS will be either the “Personal Accounts Scheme” or any other employer sponsored pension arrangement that satisfies specified quality tests.
Auto-enrolment is likely to have a major effect on employers, particularly for those with low pension membership participation rates or significant numbers of non-pensioned employees.
Further details on Auto Enrolment and the proposed Personal Accounts Scheme can be found in our information sheet below:
Related Documents
Auto-Enrolment and Personal Accounts Summary (108.89 KB, .pdf)