By the end of September 2016 all companies, no matter how large or small, will legally have to automatically enrol all eligible employees into a pension scheme and make minimum contributions into it.
Already more than 100 employers have signed up to the government backed NEST (National Employment Savings Trust) pension scheme in advance of the legal changes.
NEST has been created as a low cost option for small firms or employers who have never offered a pension to their staff before, this is also available to larger companies who have employees with no pension provision. We do expect to see competition for NEST as the staging process begins next year.
To discuss any aspect of the pension reforms, or to see how Simple HR can give you the peace of mind of legal compliance, contact us today.