As we all know, workplace law is changing. Auto Enrolment is an initiative designed to help people save for their retirement and for their futures.
This means all UK employers now have a duty to enrol employees into a pension scheme and contribute towards it. Staging dates span from October 2012 until October 2017, starting with the UK’s largest employers first.
Employers will be looking to provide a pension scheme across the board, automatically enrolling eligible employees into the scheme and paying contributions. These employers must also inform job holders that they have been automatically enrolled and that they have the choice to opt out if they wish to. They must also register with the Pensions Regulator, supply details of the qualifying scheme and the number of people that have enrolled.
“We have been using Opera 3’s Auto-Enrolment capabilities to assess our workforce, categorising employees into Eligible Jobholders, Non-Eligible Jobholders and Entitled Worker status, before automatically enrolling those who are eligible or opt-in. The system is fully integrated with the NEST workplace pensions scheme, and has been live for a few weeks now. It is working well in supporting our needs and allowing us to meet the new requirements fully.”
Russel Bartlett, Celtic Manor
Get in touch to lean more about auto enrolment and what it means for you and your business.