Question: What needs to be done to help employers that are currently without an occupational scheme meet the requirements of the new rules? Are personal accounts the best option or could group personal pension alternatives offer a better solution?
PADA: The new Government reforms that come into effect in 2012 will apply to all employers and not just those currently without an occupational scheme. Anyone employing eligible workers in the UK will need to meet the new duties and automatically enrol employees into a qualifying workplace pension scheme. Even employers with existing provision may therefore need help as they may not be meeting the new duties for all their staff and may need advice to decide what pension scheme to use. The personal accounts scheme will be one of the qualifying pension schemes on offer and is being establi...
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