NEST auto-enrolment shenanigans

StuartW

1 October 2012 sees the introduction of the new national pension rules. How has the change affected you? What are the implications for your business/employer?

As with any change of this magnitude there will be a period of confusion (here are a couple of examples) - do you understand your obligations? What are your thoughts on the wisdom of auto-enrolment into NEST?

coojee

Interesting as I was only asking about this the other day. I do the books for a pre school with 8 employees most of whom are on minimum wage. The supervisor however earns more than whatever the minimum is so it will affect us. I know for a fact that she won't want to go into a pension scheme but I still have to go through all the rigmarole of starting a scheme, enrolling her in it, paying into it and then getting her to opt out of it and wait for our money to come back again. Then every 3 years we have to go through the same procedure. Bonkers. Why can't she opt out beforehand so that we don't ever have to set up the scheme?

Gem7321

I've found this site really helpful http://www.thepensionsregulator.gov.uk/employers/tools/staging-date.aspx

Dean

I'll start worrying about it mid 2015 for it to take effect 01.01.16: Staging dates here. By such time they might have a manageable system!

Regards

Dean