Adviser  >  News  >  November 2010  >  Auto-enrolment, employer duties and NEST

Auto-enrolment, employer duties and NEST

The Government's proposed pension reform changes provide advisers with unprecedented opportunities in the corporate pensions market. Prepare your business for the changes now.

From October 2012, every UK employer will be required by the Government to set up a workplace pension scheme for their employees. Employers who fail to comply could be jailed or face substantial penalties of up to £10,000 per day.

The proposed changes provide professional advisers with unprecedented opportunities in the corporate pensions market.

What the changes mean for advisers

Employers need to plan for these changes now - so as to be prepared for the cost and administration impact of the changes on their business.

Key actions that you can take:

  • Contact your corporate clients who have existing workplace pension provision and review their current pension scheme before 2012 to ensure they meet the proposed requirements.

  • Speak to employers now to inform them of their new duties and discuss how you can help them plan for auto-enrolment.

How we can help you

Downloads

Use our material to contact your corporate clients:

Talk to us

Your Scottish Life consultant is on hand to help you prepare your business for auto-enrolment and the RDR. So get in touch with your usual Scottish Life contact to discuss what transition steps to consider.

Retirement Solutions

Our flexible workplace pension comes with our award-winning Governed Range of investment options and Group Financial Adviser's Fee remuneration model, which is broadly consistent with the RDR proposals.

Don't get left behind - time to act is now - the new employer duties are now less than 24 months away.

Note: The information provided is based on our current understanding of the relevant legislation and regulations and may be subject to alteration as a result of changes in legislation or practice.

References:

Online service

You are not logged in.

Online service will be unavailable on Saturday 23rd August to allow essential maintenance. It will be available as normal on Sunday morning. We apologise for any inconvenience this may cause.

Investment info

Literature library

Tools