Pension reforms - is your business prepared?

News

20 April, 2011

Employment experts at Forbes Solicitors are warning local businesses to prepare now for forthcoming pension reforms.

From 2012 employers will be required to automatically enrol all eligible employees into a qualifying workplace pension and to make minimum contributions into it. The government is introducing NEST (National Employment Savings Trust) which will provide a state-led alternative for any employer wishing to use it.

Initially only larger companies will have to comply but by 2016 all companies will be subject to the same rules.

Amy Stokes, Employment Solicitor comments, "Eventually this will affect all employers, whether they employ one person or 10,000. Employers need to start planning sooner rather than later to avoid the problems this could cause. Early planning will make the process easier and more manageable."

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