automatic enrolment into pension schemes
Employers are having to begin automatically enrolling their employees into either their own (qualifying) pension scheme or the Government’s new National Employment Savings Trust (NEST) or other approved scheme. It should be noted that workers can opt out of their employer’s scheme if they choose not to participate. Employers are grouped according to size: the largest employers had to introduce auto-enrolment from October 2012, though the due date for the smallest employers, with 50 or more but no more than 250 employees, is April 2015.
Employers have to enrol workers automatically of the employee satisfies various conditions including being over 22 years old and earning more than £8,105 per annum.