Free data standard launched to help companies meet their Pensions Automatic Enrolment duties
15 July 2014
The launch of a new data standard for Automatic Enrolment is creating a lot of interest. By allowing employers and others to convert their data into a standard format, this initiative opens up opportunities to save on investment and resources.
The press release explains the potential of this new initiative, and confirms the industry wide collaboration and support behind it.
Automatic enrolment: Small and micro employers
17 July 2014
The Pensions Regulator has a communications plan in place for writing directly to all small employers over the next four years. Communications are already underway, with letters sent alerting employers that they have 12 months to go before their staging date and providing some information on what planning needs to be done to ensure they are able to comply with their new duties.
Do you know when automatic enrolment will impact you or your clients? Click here to find out the staging dates of your clients or yourselves (all you will need is the PAYE reference).
Automatic enrolment: large employers are all in
21 July 2014
The Pensions Regulator’s automatic enrolment: commentary and analysis report 2013-14, published today, shows that 99% of the UK’s largest employers met their legal duties without the need for the regulator to use its statutory powers.
The Pension Regulator’s announcement follows:
Thousands of medium employers are currently reaching their staging dates - when their duties go live - and the regulator has begun sending out letters to the first of the small employers (with less than 50 workers) who are due to automatically enrol their eligible workers next summer. Charles Counsell, executive director for automatic enrolment at The Pensions Regulator said: “Our aim has been to encourage a proactive compliance culture amongst employers. The past year saw near universal compliance, with many employers actively embracing the changes with innovative communications to ensure their workers understood the benefits of a workplace pension. “There is plenty of good news, with employers keen to ensure they do things properly and low opt-out rates. But we know there are challenges ahead. We will now continue our work over the months ahead to ensure medium and small employers understand their obligations, comply with their legal duties and continue to view non-compliance by other employers as unacceptable.” Today’s report highlights the work that the regulator has done in the past 12 months to support the wider pensions industry and those who run workplace pensions. It shows the growing use of defined contribution ‘master trusts’, open to multiple employers, and provides examples of how the regulator has intervened to prevent breaches and ensure that workers receive the pension contributions they are entitled to.
CIPP Policy News Journal
08/04/2015, Page 332 of 521
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