The End Was Nigh!

As you will be aware, with effect from 1 October 2012, auto enrolment legislation started to apply to employers (its effect being staged over the next 5 years depending on employer size).

As a side effect of this legislation the Pensions Act 2008 (PA 2008) has repealed the requirement for employers to designate a stakeholder pension.

As a result, the previous requirement on a UK employer employing five or more employees to designate and facilitate access to a stakeholder pension scheme has been abolished. However, transitional provisions allow an employer to continue deducting contributions from the salary of an employee who is an existing member of a stakeholder scheme after 1 October 2012. If an existing member asks his employer to stop the deductions, the employer must tell the employee that it is no longer required by law to deduct contributions and pay these to the scheme on his behalf, but that the employee can still make payments directly to the