Auto Enrolment – What is it?
The Pensions Act 2008 introduced a new legal requirement for all employers to automatically enrol all eligible jobholders into a qualifying workplace pension scheme, if they are not already in one. The staging date for the University of Surrey to comply with its legal obligation under auto enrolment is 1st May 2013.
What does this mean to you?
For all employees who are currently active members of one of the University’s occupational schemes this will mean very little.
For most employees not currently contributing to one of the University’s pension schemes, the University will be required, by law, to enrol you and to commence deductions from the staging date.
To be eligible under the Auto Enrolment criteria, there are age and earnings limits. For those who are not enrolled automatically, the opportunity to opt-in to a scheme will be provided.
Any member of staff once enrolled, may elect to opt out of the scheme, but every 3 years employers are required to re-enrol all eligible staff who, at that time, are not members of a qualifying scheme.
Where can I find out more?
The University is currently reviewing the workforce and making preparations for our auto enrolment obligations to commence from 1 May 2013.
The websites listed below provide further general information.