The survey should take you no more than 10 minutes to complete. This survey will remain open until the close of business on 12 July 2013. Thank you in advance for your help.
DWP - SUPPORTING AUTOMATIC ENROLMENT: INFORMATION ON SMEs
2 July 2013
The Department for Work & Pensions has published the results from their call for evidence, launched in November 2012.
The call for evidence looked at the impact that two of the constraints on NEST where having on employer choice and also whether these restrictions on transfers in to and out of NEST were as the Policy had originally intended. The results showed that 83%of SMEs (small and medium sized employers) are very likely or quite likely to want to use the same pension scheme for all their workers, but the contribution restriction of £4,800 would impact on those earning £60,000 per year this would therefore create the need for SMEs, who do have employees who fall in to this category, to either use another provider, who doesn’t have similar restrictions, or to use multiple providers. Clearly amongst this size of employer, multiple users was not a popular option for the obvious reasons of unnecessary administration burden.
Supporting automatic enrolment: information on small and medium employers can be read in full (all five pages of it) at the GOV.UK website.
DWP BRIEFING PAPER - CLAUSE 34 AUTOMATIC ENROLMENT: POWERS TO CREATE GENERAL EXCEPTIONS
4 July 2013
The Department for Work and Pensions have published a briefing paper that sets out the main issues that go to support Clause 34 which would provide a power to lift the employer duty, to automatically enroll their employee in to a workplace pension, in certain circumstances.
Pensions Bill 2013-14 Briefing Paper provides example of situations where it would be wholly appropriate for Clause 34 to be used and confirms that it is the intention now to assess all evidence gathered so far and test all the suggested exclusions against the following core policy principles: • Is pension saving likely to put the individuals at financial or legal risk? • Are the individuals unlikely to benefit from pension saving? • Are employers able to identify the individuals with minimal burden? • Is the employer able to arrange membership of a scheme without unreasonable financial or legal risk?
A summary of findings from the earlier consultation will be published in due course and it is proposed to hold a further formal consultation on draft proposals in the autumn of 2013.
THE PENSIONS REGULATOR HIGHLIGHTS THE ANSWERS TO REGULARLY ASKED QUESTIONS ABOUT AUTOMATIC ENROLMENT
19 July 2013
CIPP Policy News Journal
16/04/2014, Page 380 of 519
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