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Auto Enrolment November 2011

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Auto Enrolment November 2011 www.sppa.gov.uk Presentation by: Christine Ross Aims of Presentation To provide an overview of Auto Enrolment To highlight roles and ... – PowerPoint PPT presentation

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Title: Auto Enrolment November 2011


1
Auto Enrolment November 2011
www.sppa.gov.uk
  • Presentation by Christine Ross

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/workp
    lace-pension-reforms/
  • www.tpr.gov.uk/staging

15
Things to do START PLANNING NOW
Scottish Public Pensions Agency 7 Tweedside
Park Galashiels TD1 3TE www.sppa.gov.uk
Contact details sppastakeholderliaison_at_scotland.g
si.gov.uk
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