Automatic enrolment & qualifying workplace pensions
The law on workplace pensions requires every employer with at least one member of staff to put employees who meet certain criteria into a workplace pension plan, and contribute towards it.
- This is called automatic enrolment because all eligible job holders must be automatically enrolled into a qualifying pension plan. Individuals may choose to opt out. However, every three years, employers must re-enrol jobholders who've previously opted out.
- Within five months of the staging date, or two months of automatic re-enrolment, you'll have to provide information online via a declaration of compliance to The Pensions Regulator. Within this you'll need to show how your duties have been met, including information on the plans being used.
- Since April 2015, or from your staging date if later, the rules mean that you had to make some important decisions about the pension funds default arrangements for your eligible jobholders.
This website aims to explain: the requirements, the possible considerations and the additional support available to you. If you're unclear about any of the terms used, please see our 'Jargon Buster'.
Find out what this means and how Prudential can help.
If you're an Employer and want to discuss how we can work together or to find out more about our corporate solutions, please contact us:
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