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June 2011
First Automatic Pension Enrolment Letters Go Out
The Pensions Regulator has started writing to the first employers who will need to automatically enrol employees into a workplace pension scheme to remind them of their new responsibilities.
It announced on 17 May that over the next six months, it will be sending letters marking 18 months until the first automatic enrolment to nearly 600 of the UK’s organisations – together employing around ten million employees, about a third of the UK workforce – to alert them to their new pension duties, which are being introduced in stages, according to employer size.
The regulator is providing a five-point checklist alongside with the notification letters, plus further information on its website. In due course, every employer in the UK will receive least two letters as they approach their duty date.
Bill Galvin, chief executive of the Pensions Regulator, said: “Our message is that we urge every employer to check the approximate date they must comply. The date will vary between October 2012 and February 2016, depending on employer size.
“We are saying to the UK’s 10,000 large employers with more than 250 staff to check your date now, read our guidance and use the five-point employer checklist to help prepare.
“For smaller employers, many of which will not need to automatically enrol staff until 2015 or 2016, we suggest that for now you look up your duty date. Later this year we will be publishing a range of web tools to help smaller employers to understand what they need to do to comply.”
LINK: Pension reform
