Umbrella

Auto enrolment

By the end of the decade, we are likely to look back on auto enrolment (AE) as one of the most fundamental changes ever made to the UK pension landscape.

Over the period to 2018, some 1.2m employers will need to consider how AE affects them and their employees. As one of the 1.2m, you will need to take steps to ensure you meet your new obligations and explain what this is all about to your employees.

Whether you want to take the minimum compliance route, or see this as a chance fundamentally to engage with and influence the retirement plans of your staff, we have the knowledge and experience to help you.

We think you should be aware of these important points now:

  • It affects you, even if you only employ a few staff
  • You do have a choice on how you meet your obligations
  • Planning is key – ideally you should start preparing some 12 months before the requirements apply to you; this is known as your staging date
  • The minimum level of pension contributions is being phased in over the period to 2018; you need to understand how this works.
  • The devil is in the detail, and we know the detail.

If you would like an early assessment of the pressure AE will bring to your business, take our pressure gauge assessment:

Launch the pressure gauge

For further information on all things AE, please contact Alan Smith (01733 393040), or your usual First Actuarial contact.