Pensions Regulator releases first bulletin
New rules to be rolled out over six years mean employers are required to auto-enrol staff in a workplace pension.
The Pensions Regulator (TPR) has released its first quarterly bulletin giving information about how many times it has had to use its formal powers to employers are compliant with automatic enrolment.
New rules came into force in October 2012 making it a legal requirement for employers to automatically enrol their staff into a workplace pension, unless the employee chooses to opt out. The law is being rolled out over a six-year period, beginning with the largest employers.
For employers with 50 to 249 people in their largest PAYE scheme, the starting date from which automatic enrolment duties come into force will have been allocated between April 1, 2014 and April 1, 2015.
Employers with fewer than 50 people in the scheme will be required to begin auto enrolling from June 1, 2015 and April 1, 2017.
According to the TPR's first bulletin, it had used its powers 23 times up to the end of June this year.
The update aims to provide information about cases and the power used to ensure employers comply with automatic enrolment duties.
To read the bulletin, visit http://www.thepensionsregulator.gov.uk/docs/automatic-enrolment-use-of-powers-june-2014.pdf
For further information on auto enrolment: http://www.thepensionsregulator.gov.uk/index.aspx
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