Pensions – auto enrolment

We have been keeping you up-to-date recently on Pensions Auto Enrolment – this is such a critical piece of legislation that changes seem to being made to it constantly, and therefore to ensure that all our clients are as up to date as possible, we bring you a further update on this subject.

The Government has now confirmed that employers with fewer than 50 workers will not be subject to the requirement to auto-enrol workers into a pension scheme until June 2015 at the earliest.  This date has been continually pushed back, and it is noted that the wording “at the earliest” is still being used, so therefore perhaps this is still going to be subject to change!

The Government have also confirmed that they are setting the increase in minimum employer contributions from 1% to 2% for defined contribution schemes, and that this has now been delayed to 1 October 2017 (this was previously from 1 October 2016).