Auto Enrolment
Auto Enrolment - In 2012 the Government reformed workplace pension legislations and part of this reform was an obligation by employers to enrol all qualifying employees into a pension scheme. This includes employees aged between 22 and 65 who are earning over £10,000 per year. Auto Enrolment applies to virtually all employers; even those with only one employee and employers must contribute to these pension schemes. The Pensions Regulator can issue fines to businesses who do not adhere to the legislation or who miss their staging date. All employees must be enrolled, but they do have the option of opting out of the scheme.