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Workplace pensions law is changing
A brief overview about the new duties for employers
From 2012, changes to pensions law will affect all employers with at least one worker in the UK. This document is a summary of these changes, including what employers must do and how they might set about getting ready.
We have published a series of guidance that explains the new employer duties in detail and how they should be implemented. The guidance is available for download from our website www.tpr.gov.uk/pensions-reform
The changes in a nutshell
Employers will need to:
- Automatically enrol certain workers into a pension scheme
- Make contributions on their workers' behalf
- Register with The Pensions Regulator ('the regulator')
- Provide workers with certain information about the changes and how they will affect them.
When are the changes happening?
The new employer duties will be introduced in stages starting from October 2012. Each employer will be allocated a date from when the duties will first apply to them, known as their 'staging date'.
This date is based on the number of people in an employer's PAYE scheme. Employers with the largest numbers of workers in their PAYE schemes will have the earliest staging date.