The law has changed. All employers must provide a workplace pension – and contribute to it.
Mandatory Auto Enrolment commenced in 2012 for companies with over 250 employees and finally, in April 2017, this applied to companies with less than 30 employees or those without PAYE schemes. Now all employers have to have a qualifying pension scheme in place, whether their employees are eligible or not.
Auto Enrolment: headache or an opportunity?
As a business owner and depending on your view Auto Enrolment is either a pain that you can do without or an opportunity to be embraced.
From an HR perspective, we see this as a great employee engagement opportunity.
It’s our duty to encourage employees to save
Whilst the State Pension age set out by the government has been increased, (see https://www.gov.uk/state-pension-age for the latest information) so too has life expectancy, with many people now expecting to have over 20+ years enjoying their hard-earned retirement, or will they?