Categories: Pensions - Retail
Topics: pension reform| company pensions| The Pensions Regulator| DWP
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.
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