Occupational Pensions

Work and Pensions written question – answered on 6th September 2013.

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Photo of Jim Sheridan Jim Sheridan Labour, Paisley and Renfrewshire North

To ask the Secretary of State for Work and Pensions what guidance his Department gives to employers regarding automatic enrolment options for pensions.

Photo of Steve Webb Steve Webb The Minister of State, Department for Work and Pensions

The Pensions Regulator (TPR) is responsible for communicating with employers about the reforms and has an extensive programme of engagement in place. This includes holding face to face meetings with the largest employers and writing to all employers ahead of their staging date.

TPR has published detailed guidance for employers, and their intermediaries, on how to comply with the new duties and to help them select an appropriate workplace pension for their workers. It is designed to demonstrate to employers what a good scheme looks like and sets out the key factors an employer should consider when choosing a scheme.

Many employers will already have a pension scheme in place before their automatic enrolment staging date. Providing that their existing scheme meets minimum quality requirements and is suitable for automatic enrolment they can continue to use existing scheme(s). All they have to do is certify that their scheme meets the required standard. The Department for Work and Pensions has produced supporting guidance on certification of Defined Contribution, Defined Benefit and Hybrid pensions as qualifying schemes.

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