Under pensions auto-enrolment, UK employers are legally required to set up a workplace pension for all qualifying employees.
The government introduced auto-enrolment in 2012 to help more people save for their retirement. Since then around 10 million people have been auto-enrolled and are saving for their retirement with their employer’s help. Employers currently contribute a minimum of 3% and employees a minimum of 5% but there are calls for these amounts to increase.
Government considers annual automatic increases of employee contributions to workplace pensions.
Employees should automatically be made members of their company pension scheme and be encouraged to save for retirement.
HR specific/related courses BA (Hons) Human Resource Management; MA Human Resource ManagementFounded 1992 College CV A modern university, but one...
Pensions are firmly back on the agenda and the debate will be lively over the coming months
Employers should be forced to pay pension contributions into any employee's stakeholder scheme, according to the Association of British Insurers.
Pensions minister Malcolm Wicks talks to Personnel Today about the newly re-elected government's plans to improve levels of awareness and educate more young people across the UK about the importance of saving for retirement
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The UK is likely to adopt a system where people are automatically opted in to company pension schemes to encourage them to save more for retirement
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