|HomeDirectoriesServicesAbout BFMMembers' AreaContact us|
|News| Projects | Newsletter|
Compulsory pensions contributions for all employers from 2012
The Pension Act 2008 has slipped under the radar of many employers but is has the potential of adding significantly to costs. It introduces compulsory pension provision which means that from 2012, employers will need to automatically enrol most of their staff in a pension scheme and pay a contribution by 2014 of at least 3%. Unless a company has in place an occupational scheme that meets the Act's requirements (known as a "qualifying Workplace Pension Scheme") it will fall under the umbrella of a national scheme known as ‘Personal Accounts'. The key new responsibilities are:
For further details please see Pensions Act 2008 . However, there have been suggestions that if the Conservative Party wins the next year's election compulsory pension provision will not be implemented. We will keep you posted of developments.
|Copyright 2009 © British Furniture Manufacturers|