Employers have less than one month to prepare for compulsory workplace pensions.
From October large employers will be compelled to start enrolling staff into workplace pension schemes.
Employers will have to enrol workers into a workplace pension if you:
- are not already in a pension at work
- are aged 22 or over
- are under State Pension age
- earn more than £8,105.00 a year
- work in the UK
It is thought that as many as 10 million UK workers who do not already have a pension, are aged 22 or over, are under state pension age and earn more than £8,105 per annum will eventually be included in such schemes for the first time, said Catherine Wilson, partner at law firm Thomas Eggar, in a recent analysis on HRZone.co.uk.
The NAPF has its own simplified guides and further information is available from these sources:
About Nick Huber
I’m a specialist business journalist and have a particular interest in tax and technology.