Tag: Auto-enrolment

Department of Work and Pensions : Auto enrolment: inclusion of qualifying career average schemes

5 May 2012 The Department of Work and Pensions has proposed that the provisions of the 2010 Auto-Enrolment regulations be amended to permit the inclusion of career average salary schemes under the qualifying scheme umbrella for auto enrolment. This is subject to the scheme providing that accrued rights should benefit from revaluation at or above CPI or 2.5% per year at any time that pensionable service is continuing (protection of rights after leaving service already being protected). The DWP is consulting on this amendment, with responses required by 11 June. External link

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The Pensions Regulator : Updated Auto Enrolment Guidance

13 February 2012 The Pensions Regulator has published updated step-by-step guidance on auto enrolment responsibilities for employers. Initially aimed at larger schemes, the rollout will eventually encompass substantially all employers. The guidance covers the process of workforce assessment : which employers are covered and who is out, scheme provision and transition, the automatic enrolment process : plus opting-in and opting-out, employee safeguards and record-keeping. The current timetable has auto-enrolment going live for the largest employers (120,000 employees and above) in Q4 2012, with rapid progressive rollout down to medium sized schemes (30,000 and above) by year-end. Other schemes have longer…

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