From October 2012, legislation states that all employers in the UK must automatically enrol employees into a qualifying workplace pension scheme. This legislation sets out the minimum standards for pension schemes which employers use for auto enrolment for the next 5 years and beyond.
The largest employers in the UK were required to comply from October 2012, with the implementation for all current employers concluded by April 2017.
The full list of staging dates can be viewed on the Pensions Regulator’s (tPR) website.
You may have already commenced your search for a suitable qualifying workplace pension scheme or could be using an existing scheme which may or may not need some alterations to be compliant. It is important that you understand your responsibilities to ensure you do not breach legislation.
BlueSky Pensions UK, BHA Business Partner, is at the forefront of pension provision in the UK. BlueSky operates a variety of products and systems to ensure you, as a quality employer, meet all of your legislative responsibilities and your employees are provided with a highly governed qualifying workplace pension scheme.
BlueSky has prepared a short guide covering Auto Enrolment and Flexible Savings, which can be accessed HERE.