![]() |
A report on automatic enrolment published today by the Pensions Regulator shows the huge impact that the programme has had in driving up workplace pension membership. |
But the survey shows a worrying decline in the extent to which employers are fully aware of their duties. Under the legislation, employers have ‘five duties’ which are: • monitoring the ages and earnings of new and existing staff every time they are paid to check whether they are eligible to join the pension scheme • enrolling staff and writing to them as they become eligible to join the pension scheme • managing requests to join or leave the pension scheme • paying contributions into the staff members’ pension scheme. The new report shows (p18) that only 82% of ‘micro’ employers are aware of all five duties, compared with 88% a year earlier. Awareness among medium sized employers was also down, from 98% to 94%. Commenting, Steve Webb, Director of Policy at Royal London said: ‘Automatic enrolment has been a huge success story, but it is vital that the momentum is maintained. It is worrying that growing numbers of micro and medium sized firms are not fully aware of their duties under the law. There is a risk that this will lead to workers missing out. The Government must sustain publicity around automatic enrolment, especially targeted at employers, if the programme is to continue to be a success’. |
|
|
|
Consultancy Bonanza! | ||
UK-wide / London / hybrid - Negotiable |
Service Delivery Manager - Pensions | ||
Scotland / remote / 2 dpm in the office - Negotiable |
Life Actuarial Student – Risk | ||
Glasgow / hybrid 2 dpw office-based - Negotiable |
Senior Investment Analyst | ||
London / hybrid - Negotiable |
ALM Strategy Specialist | ||
Bermuda - Negotiable |
Senior Casualty Reinsurance Actuary | ||
London - £140,000 Per Annum |
Senior Pensions Administrator - Midlands | ||
Birmingham / hybrid - Negotiable |
Senior Pensions Administrator - Scotland | ||
Scotland / hybrid 2 days per month office-based - Negotiable |
Investment Analyst | ||
South East / hybrid - Negotiable |
International Capital Management Actuary | ||
Bermuda - Negotiable |
VP Reserving Actuary | ||
London - £150,000 Per Annum |
Calling all BPA analysts! | ||
North West / hybrid 50/50 - Negotiable |
Financial Planning & Analysis Actuary | ||
London/Hybrid - Negotiable |
Apply Your Doctorate to Technical Pri... | ||
Fully remote / nationwide / hybrid working options all available - Negotiable |
Senior Investment Manager | ||
London / hybrid - Negotiable |
P&C Consultant | ||
London / hybrid 3dpw office-based - Negotiable |
Senior Pricing Actuary | ||
London - £140,000 Per Annum |
Actuarial Pensions Manager | ||
Flex / hybrid 2-3 dpw office-based - Negotiable |
Financial Reporting in beautiful Bermuda | ||
Bermuda - Negotiable |
Make a difference within BPA Administ... | ||
North West / hybrid 50/50 - Negotiable |
Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.