Jul 2015
25
TPR publishes guidance on pension scheme selection
The Pensions Regulator has recently published guidance for employers and advisors on pension scheme selection for automatic enrolment.
Changes to the law on workplace pensions and the roll out of auto enrolment mean that every employer in the UK has to automatically enrol certain members of staff into a workplace pension scheme.
Small and micro employers have, since 1st June 2015, come into the auto enrolment net (i.e. staged) and the number of these employers "staging" will increase dramatically from January 2016.
The guidance from TPR is a welcome inclusion for those employers/advisors who may wish to research the various pension schemes available for enrolling their employees.
Many small/micro employers will automatically opt for NEST but it is advisable to be aware of the options available. Some employers may choose NEST for one segment of their employees while opting for a more tailored scheme for other employees.
The TPR guidance is available here.
