Guidance on scheme certification for automatic enrolment published
Guidance has been published for businesses wanting high quality pension schemes for the Government鈥檚 workplace pension reforms.
Guidance has been published for businesses wanting to use high quality pension schemes for the Government鈥檚 workplace pension reforms.
The detailed guidance on certifying defined benefit (DB) and hybrid schemes for automatic enrolment will help firms continue to use聽existing聽schemes, rather than setting up a new one for reforms.
Starting from October 2012 employers will begin to automatically enrol eligible workers into a qualifying pension scheme, and contribute to that pension.
Minister for Pensions, Steve Webb said:
Automatic enrolment will begin in October and businesses of all sizes will be part of it, with the largest employers going first.
The guidance will help employers who are already providing good workplace pension schemes to continue to do so under the reforms.
It is very encouraging that many employers intend to聽use DB聽聽pensions for automatic enrolment.
Notes to editors:
The following documents are available at:
鈥淕uidance for employers on certifying Defined Benefit and Hybrid Pension schemes鈥�; 鈥淕uidance for actuaries on certifying Defined Benefit and Hybrid Pension schemes鈥�; 鈥淭he Hybrid Schemes Quality Requirements Rules 2012鈥� and The Government response to the consultation on 鈥淎utomatic enrolment: career average schemes as qualifying schemes鈥�.