29
Mar
2016
A question about : Do employers have to pay into a pension
My employer offers a stakeholder pension for it's 2000+ employees but it does not contribute to the scheme, is this right?
With the new pension changes in October will they have to pay into my pension in future?
Best answers:
- the changes to the pension arrangement are being phased in from October (starting with the largest compnaies) so it depends upon what sort of employer you work for
- https://www.thepensionsregulator.gov....-timeline.aspx
Here are the dates. So you might need to find out more about the 2000+ figure before you know when. - Whether companies pay into a pension is a contractual matter between the company and its employees. There is no legal requirement to do so unless it's in an employment contract. Companies of the size of yours have been required to offer a pension scheme to employees even when not contributing anything themselves.
From August 2013 companies with 2,000 to 2,999 employees are required to operate an auto-enrollment scheme that has the employer paying a minimum contribution of 1% of pay if the employee is also paying in. This minimum increases gradually between 2012 and 2018 when it's 3%.
No specific pension provider is required, any pension that meets the requirements is fine.
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