Pension legislation – get ready for the change

Overview

The Pensions Act 2008 is due to come into effect in 2012. It will, for the first time, place a legal duty on employers to enroll most employees into a pension scheme and contribute towards their retirement. The move is aimed at getting an estimated seven million extra workers saving for retirement.

However the findings from the latest ACEVO employee benefits survey reveal that 63% of organisations have not considered the financial impact of 2012 Pension Compulsion and 15% were unaware of the legislative changes in the first place.

Topics covered

• Brief background into the reasons for changes to pensions
• Explanation of the legislative changes and how Personal Accounts will work
• What does this mean for third sector organisations and their staff?
• How will the changes impact upon existing pension schemes?
• What can organisations do now to start preparing for this change?
• Possible cost implications for organisations
• Impact upon communication of pensions and operational efficiency

Learning outcomes

Practical advice designed to help third sector organisations with their pension scheme planning and look at any issues surrounding the 2012 pension legislation.