The law on workplace pensions has changed.  Every employer with at least one member of staff has new duties - enrolling those who are eligible into a workplace pension and to contribute towards it.  This is called Auto Enrolment.  Auto Enrolment has been introduced by the government so people save for a pension that will eventually top up the state pension. In the past many employees missed out on a valuable pension because their employer didn't offer them a pension, or they didn't apply to join the company pension scheme.  Auto Enrolment changes this.  It makes it compulsory for employers to automatically enrol their eligible employees into a pension scheme. The employer must also contribute. This also means that employees will be offered a benefit that will hopefully translate to increased employee commitment/motivation and lower staff turnover. Hefty fines apply to those who fail to comply with auto enrolment.  Employers with more than 50 employees should already be up and … [Read more...]