Publication of the Pensions Bill 2011

Date Added: 02 February 2011

The Bill states that a Woman’s State Pension age will be increased to 65 by November 2018 with the increase to 66 being phased in between December 2018 and April 2020.

The Bill also states that between October 2012 and September 2016, employers will need to automatically enrol all their employees or job holders in a work placed pension scheme or in the National Employment Savings Trust (Nest), a national defined contribution pension scheme. Employees may choose to opt out of the scheme.

Other key points in the bill to note are that:-

• 1. Employers will be able to postpone the date on which an employee must automatically be enrolled into a workplace pension scheme by up to 3 months. The employees will be able to opt in during this period.
• 2. Auto enrolment will not apply to any worker earning less than £7,475.00 per annum. This is a higher figure than expected.

All employers should therefore start to consider how they will comply with these new requirements.

We can help and provide you with further help and guidance. You can also get more guidance from the Pension Regulator who has issued a guide to employers regarding the proposed changes. Please see:- www.http://www.thepensionsregulator.gov.uk/pensions-reform.aspx.

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