Changes afoot in the new Pensions Bill

Opinion

Changes afoot in the new Pensions Bill

The Government has now published the Pensions Bill 2011 which includes, amongst things, provisions to implement automatic enrolment (along the lines of the recommendations of the recent DWP review).

Other key measures include:
  • Aligning the earnings threshold at which an individual is automatically enrolled with the personal allowance for income tax purposes.
  • Introducing an optional waiting period of up to three months before a worker needs to be automatically enrolled.
  • And simplifying the process by which employers certify that their defined contribution scheme meets the relevant quality threshold.
Whilst it's not the longest piece of legislation it may be one to read. It's certainly one that will raise employers' costs.

This was first published in February 2011

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