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Auto Enrolment November 2011

Auto Enrolment November 2011. Presentation by: Christine Ross. www.sppa.gov.uk. Aims of Presentation. To provide an overview of Auto Enrolment To highlight roles and responsibilities of: The Employer The Pensions Regulator DWP SPPA. Auto Enrolment – Case for Reform.

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Auto Enrolment November 2011

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  1. Auto EnrolmentNovember 2011 Presentation by: Christine Ross www.sppa.gov.uk

  2. Aims of Presentation To provide an overview of Auto Enrolment To highlight roles and responsibilities of: The Employer The Pensions Regulator DWP SPPA

  3. Auto Enrolment – Case for Reform The UK faces a major long term challenge People are living longer and Some workers not saving for retirement Everybody should be in a scheme Auto Enrolment legislation Pension Commission Report 2005 Pension Act 2008 Pension Bill 2011 Finance Act 2011

  4. Who does this apply to? All employees who: Are aged between 22 yrs and State Pension Age Earns (or expected to earn) more than the personal tax allowance (£7,475 in 2011/12) Are not members of a “qualifying” pension scheme

  5. When must they be Automatically Enrolled? Within 3 months of becoming eligible From day one if the member wishes Every 3 years (if they have opted out or not joined) Look out for members with Protection

  6. Opting Out/Ceasing Active Membership. Employees can opt-out at any time An opt-out within 1 month leads to member being treated as though they have never joined

  7. Staging Dates The staging date depends on employers PAYE number January 2013 is the first date known date for an SPPA employer to auto enrol new members Employers do not have to enrol existing employees until October 2016 (but must notify them that they can opt in at any time if they wish)

  8. National Employment Savings Trust (NEST) NEST only used for employees who do not meet qualifying criteria for the Teachers and NHS schemes NEST is intended to complement not replace an existing pension scheme Opting out of scheme – members do not have a right to NEST

  9. Roles and Responsibilities (Employers) It is important that an employees decision to opt out of the scheme is taken freely and without influence by the employer Automatically enrolling members Not encouraging them not to join Not giving advice on opting out Ensuring that members are aware of the benefits of the scheme

  10. Roles and Responsibilities (Employers) Record keeping New joiners and re joiners Changes to system Data Process for starters, leavers and opt outs Multiple employments Opting out of the scheme or a contract

  11. Roles and Responsibilities (DWP) Workplace Pension Reforms, Policy and Legislation Issuing communications and information to individuals Raising awareness and supporting employers

  12. Roles and Responsibilities (TPR) Communications and educating employers what they need to do, by when, how they go about it Issuing payroll software guidance and interactive tools Supporting compliance (including record keeping) and ensuring awareness of non- compliance

  13. Roles and responsibilities (SPPA) Regulations Considering data implications which will be communicated to employers Communicating to employers via: MAGS, SPG, TWG issuing circulars updating web revising guidance for employers and members

  14. Useful Links • http://www.thepensionregulator.gov.uk • http://www.dwp.gov.uk/docs/auto-enrol-and-wpr-the-facts.pdf • http://www.dwp.gov.uk/policy/pensions-reform/workplace-pension-reforms/ • www.tpr.gov.uk/staging

  15. Things to doSTART PLANNING NOW Scottish Public Pensions Agency 7 Tweedside Park Galashiels TD1 3TE www.sppa.gov.uk Contact details:sppastakeholderliaison@scotland.gsi.gov.uk

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