In approaching the challenges of auto enrolment Pitmans LLP is working closely with a number of pension specialists so that it can provide comprehensive advice and practical solutions for its clients. The legislation has thrown up a number of pension and employment issues that some consider straight forward on first glance though in practice they can be complex. Areas that we have advised upon are as follows:
- assessing whether existing pension schemes need to be amended to meet the qualifying criteria for auto enrolment;
- determining whether consultants or self employed contractors are “workers”;
- confirming that employee contracts and an employer’s day to day HR practices comply with the auto-enrolment legislation;
- determining whether a default investment fund is suitable for your employees;
- finalising the details of service agreements with third party service providers; and
- rationalising existing pension schemes.
This is not an exhaustive list and the legal complexities of auto enrolment should not be underestimated.
Briefing notes on the many aspects of auto enrolment can be found via the following links:
We recommend that any employer with 61 to 249 workers should now start planning for auto-enrolment staging dates that start from 1 April 2014, if they have not done so already, and that any employers with over 1,250 workers should take immediate action if they are to comfortably meet their auto-enrolment obligations by their staging date.