RMI is in dialogue with the Department of Work and Pensions in order to remain engaged with the implementation of the new auto-enrolment scheme. Auto-enrolment requires all employers, regardless of size, to provide a pensions scheme for its workers and contribute towards it. Employees will be able to opt-out.
All organisations have a staging date for when they need to do this, depending on the number of employees on an employer’s payroll. It is worth noting that smaller employers (with less than 50 employees) will not need to implement changes until the later staging dates (between April 2015 and early 2017).
However, the Pensions Regulator has advised it will take approximately 18months to prepare for auto-enrolment, so it is vital to start researching what is expected from you as an employer as soon as possible. RMI is in touch with the Department for Work and Pensions and the Pensions Regulator and will be providing up to date information and advice to members.
For an interactive guide to auto-enrolment and to find out your staging date as well as guidance on compliance, click here.
Seven steps to auto enrolment: a simple guide is available here.