With the Workplace Pensions now up and running a number of Government departments are already looking at this as a work in progress. All UK businesses need to be aware of the need for on-going governance and due diligence, as the responsibilities ultimately lie with them.
PENSIONS – AUTOMATIC ENROLMENT/AUTOMATIC ENROLMENT
Synopsis: The DWP has started a Consultation on Workplace Pensions Automatic Enrolment: Simplifying the Process and Reducing Burdens on Employers.
The DWP has opened a Consultation on Workplace Pensions Automatic Enrolment: Simplifying the Process and Reducing Burdens on Employers. The consultation runs until 9 January 2015.
This consultation seeks views on draft regulations to simplify the process for automatic enrolment into workplace pensions and reduce burdens on employers. The draft Regulations (The Occupational and Personal Pension Schemes (Automatic Enrolment) (Amendment) Regulations 2015) can be found here.
The measures are designed to:
• introduce an alternative quality requirement for defined benefits (DB) pension schemes
• simplify the requirements on employers regarding the provision of information about automatic enrolment to their employees
• create exceptions to the employer duties so that an employer is not required to enrol an employee into a workplace pension in certain situations
We will consider each of these aspects in more detail in this reference document.
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