This update was first published in the May 2012 UK edition of Accounting and Business magazine.
All businesses with one employee or more will soon be required to automatically enrol eligible jobholders into a pension scheme and contribute to that individual’s pension.
In an ACCA vodcast, Susannah Hines, customer propositions manager from The Pensions Regulator talks to Glenn Collins, head of technical advisory at ACCA UK, answering questions on workplace pension reform, what it means for businesses and what needs to be considered.
She provides answers to the following questions:
- What is auto-enrolment?
- What are the new timeframes?
- What is it that employers actually have to do?
- How do employers identify whether a staff member is eligible for auto-enrolment?
- Who is responsible for registration and are there penalties for non-registration?
- What support is available?
Glenn Collins, head of technical advisory, ACCA UK