NEST launches auto-enrolment pension guide for employers
The National Employment Savings Trust (NEST) has launched a guide to automatic pension enrolment for employers.
The guide comes ahead of the pension reforms, which will come into place from October 2012, and mean that employers must have a qualifying pension scheme in place to automatically enrol employees into.
NEST has been launched in response to these reforms, which will also mean that employers must contribute a minimum of three per cent into their employee’s pension scheme. As a result, NEST is designed to help employers meet their new obligations.
Employers do not have to use NEST though, and can use existing employee pension schemes, provided they meet certain criteria.
The guide has been launched to give an overview of the changes, and an outline of how NEST can help.
Commenting, Tim Jones, NEST corporation chief executive said: “As we engage with more and more employers, the questions we get asked range from those specifically about NEST to those more widely about automatic enrolment and what employers need to do, by when. To respond to these questions we’ve published a guide that sets out the core facts, as well as providing an overview of what NEST can do to help which we hope will help employers prepare.
“NEST has been designed with 2012 in mind. We aim to make our processes as simple for employers as possible, whilst being flexible enough to work well for organisations large and small. We will provide more information and guidance in the months to come.”