Section 292A of the Pensions Act 2004 (inserted by section 18 of the Pensions Act 2011), provides for regulations to be made to exempt employers from automatically enrolling dual- status workers. The Government now proposes to exercise this power 8 and exempt employers from automatically enrolling dual-status workers. The Act offers two alternative propositions for the regulations, but in practical terms there is little difference between the two. Both require the employer to actively identify dual-status workers and exclude them from automatic enrolment. The consultation will run until 2 April 2012. 7 March 2012 The Pensions Regulator has published its approach to maximising employer compliance with new automatic enrolment duties and supporting the pensions industry to deliver defined contribution (DC) schemes with the characteristics necessary for good outcomes. The regulator’s strategy, 'Delivering successful automatic enrolment: The Pensions Regulator’s approach to the regulation of employers and schemes' , sets out how the regulator will support the Government’s pension reforms by aiming to ensure that as many employers as possible comply, and encouraging those providing workplace pension schemes to ensure they are safe, durable and represent value for money. The regulator intends to maximise employer compliance with the new automatic enrolment duties by: · providing employers, intermediaries and advisers with the information, tools and support they need to get to grips with the new duties · establishing a pro-compliance culture so that employers understand that the law is being applied fairly, that employers around them are complying, and that wilful or persistent non-compliance will result in a fine · ensuring that effective systems are in place for detecting and tackling non- compliance. The document explains how the regulator will work with the pensions sector with the aim that members are automatically enrolled into pension products that are well-governed, durable and offer value for money by: · encouraging the market to deliver schemes that encompass the regulator’s six principles for good design and governance of DC schemes · taking a segmented approach to regulating the DC landscape, recognising that some segments are more likely than others to deliver good outcomes. The Pensions Regulator press release PENSIONS REGULATOR SETS OUT APPROACH TO AUTOMATIC ENROLMENT
UPDATED SOFTWARE COMPANION GUIDE TO WORKPLACE PENSIONS REFORM
21 March 2012 The Pensions Regulator has updated its Test data companion guide for software developers for use alongside its recently updated Software Guide. This edition reflects recent amendments to the Pension Act 2008 and new requirements introduced by the Pensions Act 2011.
CIPP Policy News Journal
09/10/2012, Page 156 of 234
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