11 automatic enrolment myths & truths [Free guide]
Automatic enrolment is the biggest change to pensions in decades. But with so many people talking about it, it can be difficult to know what is and isn’t true.
People are living longer, with healthier lifestyles; as a result the ratio between the workforce and those at a pensionable age is decreasing. People are also planning and saving less for their retirement. The current state pension cannot sustain this change so as a result, workers are being encouraged to save for their retirement through automatic enrolment into workplace pension schemes.
With such a complex change, there is obviously some confusion surrounding the legislation, so IRIS have created a handy guide which you can download for free. This guide looks at a number of myths surrounding automatic enrolment and helps set the record straight.
MYTH – Automatic enrolment means every worker in the UK will be forced to save into a workplace pension, without being given a choice
MYTH – Employers are required to set up a brand new workplace pension scheme in order to comply with automatic enrolment
MYTH – Only larger employers are legally required to comply with automatic enrolment
MYTH – Automatic enrolment is not a payroll issue, it will be handled by a different department
MYTH – Automatic enrolment is simple, I won’t need any help
Don’t leave it till the last minute, make sure you know the truth about automatic enrolment by downloading your free guide today.