Earlier this month Rothmans Eastleigh held a successful seminar on auto-enrolment, one of the biggest changes in pension regulation in the last hundred years. Held at the Rhinefield House Hotel it gave employers a better understanding on their auto-enrolment obligations and provided advice on how to create a successful auto-enrolment strategy.
By 2018 every employer will have to enroll all eligible employees into a qualifying pension scheme or potentially face fines of up to £10,000 per day. The initial wave of auto-enrolment has begun, with the largest businesses – those with more than 120,000 employees – starting first. Smaller firms will have to enroll their employees over the next five years, however it is worth bearing in mind that in late 2017 there will be over 100,000 businesses a month coming onto the scheme.
Keynote speakers were David Yeandle, one of three experts appointed by the Government to undertake an independent review of automatic enrolment as part of its pensions reform programme and Paul Stovold representing the National Employment Savings Trust (NEST).
The evening ended with a lively debate where attendees quizzed the expert panel on the new pension arrangements, to further understand how it will affect their business.
This seminar was organised by Habib Brora, Partner at Rothmans’ Eastleigh office, to help businesses understand this difficult topic.