5 June 2015
The People’s Pension Makes Auto-Enrolment Easy
Since the introduction of legislation in 2012 requiring employers to auto-enrol their staff into a workplace pension, over 5,000 employers have signed up to The People’s Pension from B&CE, which is designed to make the process as easy as possible.
Any employer with one or more employees must provide a suitable workplace pension, enrol their employees into it and make contributions on their behalf. This is called ‘auto-enrolment’ as employees don’t need to do anything to be enrolled, but employers must take steps to ensure they are. The date when auto-enrolment is switched on for a business is known as its ‘staging date’ and employers need to select a pension scheme in advance of this so that they are ready to enrol. Any employers who are not ready to enrol on their staging date could be subject to fines from the Pensions Regulator.
The People’s Pension provides an all-round solution that enables businesses of all sizes to meet their obligations without having to get involved in all the aspects of running a pension. The B&CE Auto-Enrolment Hub sets out all the information that employers need in one place, including how to find their staging date, a simple six-step process to joining The People’s Pension, and a range of template communications to help them explain it to their employees.
To find out more, visit the Auto-Enrolment Hub.