We use cookies to give you the best online experience. By using our website you agree to our use of cookies in accordance with our cookie policy. Learn more here.Close Me
From October 2012, a duty is being phased in for employers to
automatically enroll eligible 'jobholders' (workers) into a
qualifying pension scheme. The government is keen to encourage
individuals to save for their own retirement rather than relying
solely on the state pension, and to make the process of
contributing to a pension scheme as easy as possible.
The employers to which this obligation relates, and the date on
which an employer must implement the automatic enrolment (the
'staging date'), is determined by the number of employees
in an employer's PAYE (pay as you earn) payroll scheme as at 1
April 2012. The earlier staging dates apply to the larger
employers, and employers with a large workforce should make sure
that they know the staging date timetables. An employer with 10,000
or more employees in its payroll on 1 April 2012 will have a
staging date between 1 October 2012 and 1 March 2013 (with the
earlier date of 1 October 2012 being reserved for those with a PAYE
payroll scheme of 120,000 or more).
This requirement will see certain employers automatically enroll
their eligible workers into pre-existing schemes where these meet
the requirements of a qualifying scheme or, alternatively, into the
National Employment Savings Trust which has been established for
the purposes of auto-enrolment. Either way, for a scheme to be
qualifying, a certain level of minimum benefits must be
provided.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
To print this article, all you need is to be registered on Mondaq.com.
Click to Login as an existing user or Register so you can print this article.
The High Court and, most recently, Court of Appeal decisions in the "banker bonus" litigation stemming out of the Commerzbank/Dresdner merger in 2008 have received extensive media coverage.
In October 2012, the Court of Appeal confirmed that a Service Provision Change ("SPC") TUPE transfer can only occur where the client who receives the service, before and after the change, remains the same (Hunter v McCarrick [2012] EWCA Civ 1399).
Following much debate, on 24 April 2013 the House of Lords finally gave its approval to employee shareholder status which will now take effect from Autumn 2013.
Some comments from our readers… “The articles are extremely timely and highly applicable” “I often find critical information not available elsewhere” “As in-house counsel, Mondaq’s service is of great value”
