Auto-enrolment

Will your business be ready?
 

 Overview

 
What do the changes mean?

They mean that employers now need to automatically enrol ‘eligible jobholders’ into a ‘qualifying pension scheme’. Eligible jobholders will only need to be automatically enrolled once they have completed up to three months’ employment, although employers could opt to enrol them before then. An eligible jobholder who wishes to opt in during the waiting period will have the right to do so and benefit from an employer contribution.

Once automatically enrolled, eligible jobholders will be able to opt out within a month, in which case they will be due a refund of any contributions taken.
Thereafter, employers must re-enrol them every three years, again with the opt-out provision.

We provide advice and assistance to employers to help them prepare for the upcoming changes.
 

 

 Insights and views

 
    Countdown to Flexiday: Increased opportunities to take small benefits as cash
    27 June 2014
    In this note, the third in our ‘Countdown to Flexiday’ series, we look at the changes to the rules for trivial commutation made in this year’s Budget, in particular whether bulk trivial commutation exercises are now likely to be more attractive.

    Read more
    Pensions Bulletin June 2014
    3 June 2014

    In the latest issue of our Pensions Bulletin, we look at the changing pensions environment, focusing on transitional regulations on the definition of money purchase, the arrival of the Pensions Act 2014 onto the statute books and a consultation on regulations relating to the abolition of defined benefit contracting out.

    The Bulletin also looks at some other recent developments, including the first enforcement report for non-compliance with the employer duties legislation, the IBM case and a draft Statement of Recommended Practice on company accounts.

     


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    Countdown to Flexiday: Will all transfers from DB schemes be banned?
    29 May 2014
    In this note, the second in our ‘Countdown to Flexiday’ series, we look at the options being considered for a possible ban or restrictions on transfers from private sector defined benefit (DB) schemes and their implications.

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    All Change for DC
    29 April 2014
    Getting defined contribution (DC) pensions right is key to making auto-enrolment a success and improving retirement incomes for millions of people. This briefing note focuses on the action points for trustees of DC schemes and sections.

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    Draft IORP II Directive: new proposals from Europe
    28 April 2014
    The European Commission (EC) published draft revisions to its Directive on the activities and supervision of institutions for occupational retirement provisions (IORPs), known as the IORP II Directive, on 27 March 2014. The stated aims of the revisions are improving the governance and transparency of IORPs in Europe.

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    Government sets 0.75% charge cap for auto-enrolment schemes and will ban commission
    31 March 2014
    The government has introduced a 0.75% charge cap on the default funds of qualifying schemes used for auto-enrolment from April 2015 and has confirmed that from April 2016 commissions and active member discounts will be banned.


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    Pensions Bulletin March 2014
    10 March 2014

    In the latest issue of our Pensions Bulletin, we focus on journey plans and integrated risk management plans in the light of the Pensions Regulator's draft code of practice on DB funding. The Bulletin also looks at some other recent developments, including the impact of same sex marriage on occupational pension schemes and HMRC’s recent announcement on changes to its VAT policy.



    Read more
    Visit the Industry Insights page for news and views on the latest industry developments
 

 Online services

 
    PS Planner
    An interactive web-based retirement planning assistant for members of defined contribution pension schemes.
    Read more
    PS Prepare – an interactive auto-enrolment tool
    Our employer duties cost calculator which will help you quantify the true cost of your company’s auto-enrolment obligations from contributions through administration to reporting and compliance.
    Read more
    Visit the Online services area to access our full range of online modelling tools and facilities
 

 Events

 
    Preparing for your next valuation
    6 November 2014
    For Trustees, Finance Directors and those responsible for Pensions and Corporate Risk
    Read more
    Visit the Events area for all forthcoming Punter Southall seminars, conferences and events
    Speak to us

    Speak direct to our specialists in this area
    Alan Morahan
    Principal
    Or call us on
    020 3327 5000
 

 Auto Enrolment toolkit

 
Now available! For more information and to request a copy:
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