Auto-enrolment dates pushed back for some small firms

Author: Rachel Dalton
IFAonline | 10 Aug 2011 | 10:22

Categories: Pensions - Retail

Topics: pension reform| company pensions| The Pensions Regulator| DWP

dwp-logo01

The government has proposed changes to pension reform which will give smaller employers more time to prepare for auto-enrolment than previously planned.

Guidance for employers issued on 9 August by the Pensions Regulator (TPR) says smaller employers who share Pay As You Earn (PAYE) schemes with other businesses will have their staging dates pushed back by as much as 23 months.

The changes to some of the employer staging dates are included in the Department for Work and Pensions consultation Workplace pension reform: Consultation on draft regulations and guidance.

The changes are expected to be made into legislation before the Pensions Bill becomes law.

Revised dates will apply to employers with fewer than ten members of staff but who are part of a larger PAYE scheme that has more than 239 members.

Under the proposed changes, a business fitting this description that is part of a PAYE with 250 members would have its staging date moved from 1 February 2014 to 1 January 2016.

 

More pensions - retail news

Recommended reading

Categories

Topics

Comments

There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment

Related articles

Most Read

Audio / Visual

Coffee Lounge

View all the winners here

PPR Structured Product Awards 2011

View all the winners here

This year we have 14 awards designed to mark out the very best products in a highly competitive and innovative market. This includes three new awards for 2011 to reflect the developments in this rapidly growing market: Best Dual/Multi-Index Product, Best Structured (Oeic) Fund and Best Structured Product Provider.

Events

event logo

International Fund & Product Awards 2012

14 Jun 2012 - 14 Jun 2012

London, UK

event logo

British Mortgage Awards 2012

03 Jul 2012 - 03 Jul 2012

London, UK

event logo

Cover Webinars

04 Jul 2012 - 04 Jul 2012

London, UK

Poll

Have you seen a decline in demand for SIPPs as a result of the proposed erosion on pension tax relief for those earning £150,000 or more?

In Focus

Viewpoints