Pensions Reform 2012
It is estimated that around 7 million people are currently under saving or not saving at all for retirement.
The Pensions Act 2008 introduced by the previous Labour Government contained measures aimed at encouraging greater private saving. From 2012, employers will be required to automatically enrol all their eligible jobholders into a qualifying pension scheme and make contributions towards it.
On 24th June 2010, the new Government confirmed its commitment to automatic enrolment by way of workplace pension schemes. At the same time it announced details of a review which will investigate how best to support the implementation of automatic enrolment. We will have to wait and see if the scope and method of delivery proposed by the previous government will be retained or overhauled. The conclusions of the review will be published at the end of September 2010.
There are four main areas of reform, please click on the links below to view in full: