A key package of regulation to help employers prepare for automatic enrolment into workplace pensions is published today.
A key package of regulation to help employers prepare for automatic enrolment into workplace pensions is published today. This package, alongside the revised timetable for automatic enrolment published last week, is designed to make it easier for business to manage their new duties. With these regulations in place, the legislative framework underpinning these reforms is now almost complete.
The DWP is publishing the Government’s response to the consultation published last summer on workplace pension reform regulations, and guidance on certifying pension schemes.
Minister for Pensions Steve Webb said:
I welcome the positive response to our consultation. These regulations provide key legal requirements and guidance to help employers start enrolling their staff later this year. Automatic enrolment can now begin and start a much-needed seismic shift in pension saving in this country.
The consultation looked at arrangements to put into effect the remaining recommendations of the Making Automatic Enrolment Work Review on optional waiting periods and simplification of the certification process.
It also covered new statutory instruments on special occupations not included previously; seafarers, offshore workers and police not under a contract of employment.
A revised timetable for automatic enrolment was published on 25 January, giving employers clarity and certainty about their starting dates.
This followed the announcement, in November, that small firms would be given more time to prepare for automatic enrolment to help them out in exceptionally tough economic times.
Notes to Editors
- ‘Workplace Pension Reform: completing the legislative framework for automatic enrolment: Government response to consultation’ is available at: http://www.dwp.gov.uk/consultations/2011/workplace-pension-reform- 2011.shtml
- Final versions of the regulations, accompanying Explanatory Memorandum and Impact Assessment, and technical guidance on certifying money purchase pension schemes and the money purchase element of hybrid schemes, are also available at the above web link.
- The documents published today are: Workplace Pension Reform: completing the legislative framework for automatic enrolment: Government response to consultation. Automatic enrolment: Guidance on certifying money purchase pension schemes and the money purchase element of hybrid schemes. The Explanatory Memorandum and Impact Assessment relating to the above Statutory Instruments. The Automatic Enrolment (Miscellaneous Amendments) Regulations 2012 The Occupational and Personal Pension Schemes (Automatic Enrolment) (Amendment) Regulations 2012 The Compromise Agreements (Automatic Enrolment) (Description of Persons) Order 2012 The Automatic Enrolment (Offshore Employment) Order 2012
- The ‘Making Automatic Enrolment Work’ review was published on 27 October 2010.
- The Pensions Regulator will shortly update its detailed guidance for large employers and advisers to reflect the finalised regulations.