We’ve previously mentioned the forthcoming changes to workplace pensions and so called “auto enrolment” – the process where employers have to enrol staff in a pension scheme and make a contribution towards the pension costs.
Theres a important note on the Pensions Regulator’s web site:
“The Government has announced changes to the way that the employer duties are being introduced.
“Employers with fewer than 50 persons in their largest PAYE scheme will not be staged into the employer duties until after the end of this Parliament.
“Employers with 3000 or more persons in their PAYE scheme, ie those with likely staging dates between 1 October 2012 and 1 July 2013, will be unaffected and their staging date will be unchanged.
“As a result of the announcement we will update our guidance on staging and the phasing of contributions as soon as the Government publishes the revised staging schedule.”
This should defer the auto enrolment issues – and costs – till at least 2016, based on this Parliament running to 2015 as per the Coalition Agreement, and then a lead in time.