With effect from today, the largest employers in Britain (those with 120,000 people or more in their largest PAYE scheme) become subject to the Government's flagship auto-enrolment regime. As discussed in our previous e-update, "Automatic for the People: The Impact for Employers of Auto-Enrolment Provisions", employers are now required to put in place a system to automatically enrol workers into a pension scheme which meets certain minimum regulatory standards.
A high-profile media campaign has recently been launched by the Government to further increase awareness among workers and employers of auto-enrolment; you can view the DWP's television advert on the subject on its official YouTube channel here.
We would encourage employers who have not already done so to ascertain their 'staging date', being the date from which they are required to implement auto-enrolment requirements in relation to their workforce. As our recent e-update explained, the staging dates for certain employers have changed.
Disclaimer
The material contained in this article is of the nature of general comment only and does not give advice on any particular matter. Recipients should not act on the basis of the information in this e-update without taking appropriate professional advice upon their own particular circumstances.