What are the new rules? The new pension regulations require all employers with workers who work (or ordinarily work) in Great Britain, to ensure that all workers they employ under employment contracts are automatically enrolled into a qualifying pension scheme if they are not already enrolled into one.
The regulations come into force on 1 April 2012
When do they apply from? The new rules apply from 1 October 2012. However depending on the size of your employee headcount and remittances to HMRC, there are different "staging dates".
- Larger employers are being brought in first, with
- smaller employers who remit less than £50,000 per annum to HMRC being brought in from January 2013 onward;
- Additionally, some employers with less than 50 employees will be chosen at random and asked to participate from 2012 as part of a pilot.
- Do they apply to my workers? If your workers are: aged between 16 and 74;
- working in Great Britain and
- earn over £5,035*
or
- are between 22 and State Pension Age and
- earn over £7,475*
they will have the right to opt in or will need to be automatically enrolled.
In both categories, an employer contribution into the pension scheme will be required.
*earnings figures are expected to be uprated on a yearly basis starting with early 2012.
