The purpose of this course is to familiarise you with the workplace pension reform and all the aspects of this ma...
Shortened demo course. See details at foot of page.
... right hand menu. In order to view the sections within each chapter click on each of the section names.
The Government wants people to save so that th...
Shortened demo course. See details at foot of page.
...lting impact on employers and their employees.
Let’s look at the numbers just prior to the implementation of automatic enrolment.
Over 80% of the UK’s employers were small to medium-sized companies, which offered no pension scheme to their employees
Of those that did, over 30% of the workforce chose not to join the pension scheme, even where the employer was offering to contribute
Only around 3 million were contributing into a workplace pension, the lowest number since the 1950s
Statistically it is expected that by 2050, a male reaching the age of 65, will liv...
Shortened demo course. See details at foot of page.
...set out in the Pensions Acts 2008 & 2011) addressed these specific issues by introducing:
Automatic enrolment into a qualifying pension scheme for employees who meet the qualifying criteria – these employees are referred to as eligible jobholders who will then have to opt out of the pension scheme if they do not wish to remain in it
Both the employer and the employee are required to contribute to the pension scheme, with the Government pitching in as well by giving tax relief on employee contributions
The phasing in of automatic enrolment started in October 2012 with the larges...
Shortened demo course. See details at foot of page.
...f compliance to TPR within 5 months of their ‘duties start date’.
