Money Matters: An overview of the new company pension legislation

editorial image

Following many enquiries concerning the new company pension legislation, I have been asked to give a brief overview of the proposals.

To encourage and help people save more for their retirement, the government has introduced automatic enrolment (also known as auto enrolment).

News from the Lincs Free Press and Spalding Guardian, spaldingtoday.co.uk, @LincsFreePress on Twitter

News from the Lincs Free Press and Spalding Guardian, spaldingtoday.co.uk, @LincsFreePress on Twitter

Automatic enrolment is where an eligible employee is automatically enrolled into their company pension. From October 1, 2012 to February 2018, depending on business size, employers will have to automatically enrol all eligible employees into a qualifying pension scheme and contribute to their pension plans.

This is a fantastic opportunity for people to improve their standards of living in retirement and like most financial matters there are many options.

So, if you are an employee looking to understand the benefit of joining your company pension and how automatic enrolment could affect you; or if you are an employer looking for a helping hand with your automatic enrolment preparations then please get in touch.