31 August 2011 #Employment
Are you aware of the pensions auto enrolment reforms? According to the Chartered Institute of Personnel and Development`s (CIPD) survey, 53% of workers in private and voluntary sectors are ‘totally unaware` of the pension reforms.
The reforms will come into effect from 1 October 2012 which will see all eligible staff automatically enrolled into a pension scheme.
Charles Cotton, CIPD adviser for performance and reward, said that ‘a move towards a non-means tested flat-rate pension would be beneficial to all, particularly as the removal of the default retirement age begins to take effect.`
Organisations can also play a role in communicating the changes to employees as well as being aware of their duties and making decisions as to which scheme they will use and the contributions they will pay.
If you would like to find out more on how to prepare your organisation, please click here to see details of our seminar on the pension reforms on 22 September 2011