This new law will affect you.
It will affect every employer and employee in the country, and the county, and Guildford
For the first time ever every employer is going to be compelled by law to offer a pension scheme, and unlike the farcical stakeholder pensions where the minimum requirment was a certificate on the wall, this time both employer and employee are going to be compelled to pay into their new pensions. Even good existingf schemes are going to have to make changes to comply - for example non joiners will now be automatically signed up.
This new law will be compulsory for employers even with only 1 qualifying employee. There will be an opt out for employees.
At present if an employer offers a pension it is on an opt in basis - in other words you only join if you say you want to. The new rule will be that every qualifying employee (most people) will be automaticaly enrolled by the employer- no choice so if you are an employee don't get upset with your employer - that is the law. You will have a chance to opt out after enrollment if you want to.
At present of course many employers offer nothing. And the same is true of many of their employees
So whether you are an employer or an employee you need to know what is coming, and much more importantly plan and budget for it
A little more information here
or visit our feature on the best of guildford
