Overview
The employer duties came into force on 1 October 2012. Employers will be brought into the regime gradually between 2012 and 2018.
Overview
The employer duties came into force on 1 October 2012. Employers will be brought into the regime gradually between 2012 and 2018.
- There are currently around seven million people in the UK who are not saving enough to generate the pension income they are likely to want, or expect, in retirement. 1
- The government hopes to attract five to nine million more employees to contribute towards a workplace pension from 2012.2
- Implementing the reforms is likely to mean extra costs for your business from the administrative costs of managing automatic enrolment to potential increases in your pension contributions.
- Source: Rt Hon Yvette Cooper, MP, Secretary of State for Work and Pensions. Launch of NEST, 7 January 2010
- Source: Making auto enrolment work: A review for the DWP. October 2010, p29
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