The UK’s leading pensions body has launched an online guide to help employers and HR professionals understand how to auto-enrol their staff into a workplace pension.
The National Association of Pension Funds (NAPF) has launched the free-to-view site because it is concerned that many employers, particularly SMEs, could struggle to digest the new rules.
The new guide (www.napf.co.uk/Automatic-Enrolment) breaks the big issue of auto-enrolment down into smaller sections and offers employers guidance on the whole process, including: assessing eligibility, picking a pension scheme, administration and communication. It also suggests tips on how employers can manage opt-outs and postponements.
The guide also uses warning signs to flag up potential pitfalls or points that could be misunderstood.
Joanne Segars, NAPF Chief Executive, said:
“Auto-enrolment is this country’s best chance of getting people into the habit of saving for their retirement. It is a very important reform and we have to ensure its success by helping people understand it.
“There has been some welcome and high-profile outreach to the general public, but we must not forget that employers are also vital to the whole process, especially because they will be picking the pensions.
“Our concern is that employers will have to get across many issues that they could find quite complicated and technical, particularly if they are a smaller business. Our site is designed to help them understand the key facts and issues so that they can feel more confident about pensions.”
Notes to editors:
1. The new guide can be found at www.napf.co.uk/Automatic-Enrolment. The pages are public and no registration is necessary.
2. The NAPF is the leading voice of workplace pensions in the UK. We speak for 1,300 pension schemes with some 16 million members and assets of around £900 billion. NAPF members also include over 400 businesses providing essential services to the pensions sector.
Paul Platt, Head of Media and PR, NAPF, 020 7601 1717 or 07917 506 683, [email protected]
Christian Zarro, Press Officer, NAPF, 020 7601 1718 or 07825 171 446, [email protected]