Pensions Reform, Auto Enrolment
We are aware that the pensions reform is being discussed in the media now, and wanted to let you know that we are monitoring the issue so that we can be ready to advise you when it becomes relevant.
The auto enrolment system is being rolled out from October this year, however it is only the biggest employers signing up at the moment and some payrolls will only be part of the new system in 2018.
The scheme is being brought in to deal with the lack of funds available to keep backing a state retirement pension for all, and so both employees and employers will need to be setting aside set amounts to ensure today’s employees have an income on their retirement.
As the issue starts to become more relevant to our clients, Astons will keep you informed.