The Department of Work and Pensions and the Pensions Regulator have launched a new advertising campaign promoting auto enrolment which aims to change the country’s perception of pensions in the workplace.
Workie, ‘a striking physical embodiment of the workplace pension’, will be seen visiting people in different work environments over the coming months, asking them not to ignore him.
The advertisements come with a message, whilst automatic enrolment into workplace pensions has been rolling out across the UK since 2012, it is only now that 1.8 million small and micro employers need to act. In a phased process over the coming months, every employer will have to enrol their eligible staff into a pension scheme, by reference to their staging date.
Since 2012, more than 5.4 million workers have been automatically enrolled into a workplace pension by almost 61,000 employers. By the time the process is complete in 2018, it is estimated that around 9 million workers will either be newly saving or saving more into a workplace pension.
Each employer is assigned a date on which its duty to auto-enrol commences. This is known as a staging date and is based on the number of employees in the PAYE scheme(s) operated by that employer.
To confirm your business’ staging date you can use the regulator’s interactive tool atthepensionsregulator.gov.uk/employers/tools/staging-date.aspx. You will need your business’ PAYE reference to do so.
Rothmans are working with employers to help them decide on the best course of action for their business and working with them to put the required changes in place.
Please contact your local Rothmans office for further information.