The introduction of the Pensions Act 2008 and the Employers’ Duties (Implementation) Regulations 2010 has placed a duty on all employers to implement pension schemes compliant with the Regulations prior to their staging date for autoenrolment.
For larger employers the staging dates began on 1st October 2012 but by 1st February 2018 all employers will be covered. Some have already entered voluntarily before their staging dates. Those employers who have already entered autoenrolment have fed back that the process takes longer than expected and that robust administration systems are critical.
We can guide your organisation through the legal requirements, help you to determine whether existing pension arrangements suffice and to identify what changes, communications and consultations should take place. We can also work with you on the delivery of these.
Pension costs should be considered in the full cost recovery for any service contracts that are tendered that will be delivered from your staging date onwards. There is therefore merit in advance planning and we would be happy to provide advice on obligations, options and timescales.
Please contact us in confidence for more information and to discuss this further.