The Chartered Institute of Payroll Professionals ……………………………………………………………Policy News Journal
Everything employers need to know to help them to comply with their automatic enrolment duties can be found on TPRs website .
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Expert advisory group appointed to the automatic enrolment review 9 February 2017
The Department for Work and Pensions (DWP) has announced the external advisory group that will support the 2017 review in to automatic enrolment.
Terms of reference have been published which detail that the purpose of the Advisory Group is to support the work of the DWP review team by providing advice, insight and a challenge function.
There will be three chairs (Ruston Smith, Trustee Director at Peoples’ Pension, Jamie Jenkins, Head of Pensions Strategy at Standard Life, Chris Curry, Director of the Pensions Policy Institute). Each chair will lead on a key theme within the review with supporting membership from a range of experts. Advice will be provided by the group to the DWP review team to inform DWP’s development of a report to the Secretary of State for Work and Pensions. The work of the group will have regard to s149 of the Equality Act and the principles of fairness, affordability and sustainability in providing advice on future policy development through ensuring that automatic enrolment continues to meet the needs of individual savers while, Balancing the needs of individuals with the costs to employers, where possible minimising the administrative burden on employers; and Ensuring value for money for the taxpayer. Recognising consistency with other recent developments in the wider pensions and savings landscape.
How to respond to the review
Read the initial questions related to the automatic enrolment review on the three themes of:
1. 2. 3.
Coverage
Engagement
Contributions
Interested parties can send views about the review by 22 March 2017 via email to: 2017automatic.enrolmentreview@dwp.gsi.gov.uk or by post to: AE 2017 Review Team, Private Pensions Directorate, Department for Work and Pensions, First floor, Caxton House, Tothill Street, London, SW1H 9NA.
The DWP will publish a final report later this year.
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Auto enrolment when working hours fluctuate 10 February 2017
The Pensions Regulator has guidance explaining how to manage auto enrolment duties when employees have varying hours and rates of pay.
Once an employee has been enrolled into a pension scheme, as their pay varies, this will affect how much an employer needs to put into the scheme.
Employers will need to calculate the contributions to be made to the scheme each time an employee is paid.
The contributions the employer and the member of staff make to the scheme will rise and fall depending on the amount they earn.
The Chartered Institute of Payroll Professionals
Policy News Journal
cipp.org.uk
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