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ARTICLE · 13 APRIL 2011

Pensions Auto-Enrolment - 2012 a New Horizon

Smith & Williamson
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Following a review commissioned by the coalition Government on the 27 October 2010, pensions auto-enrolment was ratified by the department for work and pensions (DWP).

United KingdomEmployment and HR
Peter Maher
Peter Maher
Ian Bulman
Ian Bulman
Matthew Haswell
Matthew Haswell
Ian Luck
Ian Luck
Christopher Murray
Christopher Murray
Julia Ridger
Julia Ridger

Following a review commissioned by the coalition Government on the 27 October 2010, pensions auto-enrolment was ratified by the department for work and pensions (DWP). The Government is targeting employers that are not offering a qualifying workplace pension scheme (QWPS) and employees who are not saving for their retirement.

Auto-enrolment is the simplest way to quickly get more employed people to save for their retirement.

The commission also recommended that a low-cost default scheme be introduced alongside automatic enrolment to ensure that "supply could meet demand". The Government will launch a suitable scheme under the banner of NEST (National Employment Savings Trust) which is aimed at those on low incomes.

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