Earlier this year we commissioned a new author, Rob Weaver, to write us a course for www.accountingcpd.net on Automatic Enrolment for Accountants. It’s great to have this new addition to our portfolio.
Automatic enrolment (or auto-enrolment) is designed to get more people saving for their future. People are living longer and cannot just rely on the Government for their retirement provision. This is not just a pension issue; this affects many aspects of business including payroll, human resources, legal and finance.
Employers must have some sort of pension provision for all workers. Some workers will not need to make an active decision to join their employer’s scheme as they will be automatically enrolled. Employers need to set up and contribute to a pension scheme suitable for automatic enrolment. Employers have different duties depending on the types of worker they employ. The Pensions Regulator will ensure employers comply with their new duties and will impose penalties on those that do not.
Employer duties will come in between 1st October 2012 and 1st February 2018 depending on the number of employees, with the largest employers being affected first; it's important that accountants get up to speed in order to provide advice to clients and employers.
Automatic Enrolment: A Guide for Accountants is available to purchase via www.accountingcpd.net.