Partner Article

Employers confused by pensions legislation

Many employers are confused by the new legislation surrounding retirement, according to a new report

As of October 2012, employers will be required to enroll all eligible jobholders into a company pension scheme.

The process will be staged over four years, and employers will be notified of their requirements 12 months before the staging date. This will give employers time to enroll workers into a pension scheme, make contributions, on their behalf and register with the pensions regulator.

Michael Slade Managing Director of Bibby Consulting is now calling for all employers to ensure thy give employees all necessary information to ensure they are able to comply with their duties and also to reduce complaints and negative feedback.

He commented: “Any company with workers who are affected by the changes need to make it their business to keep their workforce fully up to date with the very latest changes – anything less is just asking for trouble.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .