From their staging date, all employers will have a legal duty to offer a qualifying workplace pension scheme (QWPS) to their people. Employers will need to automatically enrol eligible employees into the QWPS and will also need to make pension payments for them.
The staging date depends on the company’s size and employees’ eligibility depends on age and earnings.
For more information on staging dates, minimum pension payments and the earnings threshold, see New employer pension duties – Completing the jigsaw.
It’s essential that employers prepare for their staging date as early as possible. To help with this, we have identified five key areas that need to be considered:
The pension reform changes have implications for every employer in the UK. Standard Life's solutions can help employers of all types and sizes.
Streamlined solution is simple to set up, easy to manage, effective - it's suitable for the majority of organisations.
Lifelens is our integrated solution is designed for companies with specialist needs.
For more information, you should speak to your corporate adviser. If you don't have a corporate adviser, contact us.
The information on this site is for financial planning professionals, pension trustees and individuals responsible for decision-making on corporate schemes, and must not be relied on by anyone else. If you are not an adviser you should go to our main website for information about our products and services.