preparations for automatic enrolment. That’s why we’re calling on employers to start thinking about how they will meet their duties as soon as possible.
‘For some, it may take longer, for others, it may be less, but we should not underestimate the scale of the challenge facing employers and the broader pensions industry. Between now and 2018, 11 million people, working for 1.2 million employers, will benefit from automatic enrolment. At some stages, for example in the summer of 2014 which is just over 18 months away, there will be literally tens of thousands of employers reaching their staging dates within a very short space of time. ‘Today we’re announcing the names of some of the companies we’re working with who are in the early stages of automatic enrolment. As these names show, NEST is suitable for a wide range of employers and can be used in a variety of ways. We are very pleased to welcome these employers on board.’ NEST has been working with volunteer employers since last year and over 170 are now participating in NEST. In addition, over 100 large employers have told us they intend to use NEST to help them meet their automatic enrolment duties. Most of these employers are using NEST alongside another pension scheme. A few examples of employers we are working with are below.
BBC BT Capita Resourcing Ltd Compass Group UK & Ireland Gondola Group The JSA Group McDonald's Restaurants Ltd The Rank Group Plc Travelodge
Steve Webb, Minister for Pensions, said:
‘I am delighted to see major household names among the broad and diverse group of employers choosing NEST, which is one of the schemes employers should consider when they decide how to meet the new duties. ‘NEST has been specially created to make it easy for employers who are not used to dealing with pensions, and want to enrol their workers into a good quality, low cost pension scheme without any fuss.’
AUTO ENROLMENT PRP THRESHOLDS 2013/2014
23 January 2013
The Department for Work & Pensions (DWP) and the Pensions Regulator have provided a table of the various pay reference period thresholds for Auto enrolment for 2013/14.
After the announcement of the increase to the annual thresholds for Auto enrolment, numerous requests were made by industry representatives for the release of the 2013/14 threshold values broken down to each of the various Pay Reference Periods (PRPs).
These are the proposed thresholds and are still subject to parliamentary approval.
The thresholds will come into force on 6th April 2013.
Automatic enrolment rates 2013/14
CIPP Policy News Journal
16/04/2014, Page 373 of 519
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