From 2012, changes to pensions law will affect all employers with at least one worker in the UK. Charlotte Richards finds out what advisers are already doing to prepare their clients.
Pensions law is changing. Between 1 October 2012 and 1 February 2018, depending on the size of their business, employers will have to automatically enrol employees into a workplace pension scheme and make contributions on their workers’ behalf. It is generally agreed that this new piece of regulation will provide opportunities for financial advisers. However, figures from the National Association of Pension Funds (NAPF) last week showed more than a third (33%) of workers eligible to join a qualifying workplace pension scheme intend to opt-out after being automatically enrolled. They also...
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