Compulsory pensions for all employers 2013
You open your payslip and your salary is less than usual, quite a bit less. This could be your employees come October 2013 when 10 million employees not currently in a workplace pension scheme will be auto enrolled into one.
The idea of auto enrolment is to make that inertia actually work in favour of pension saving, so if you do nothing you will start to pay into a workplace scheme of some description.
Not everyone is going to be immediately auto-enrolled. The biggest employers, best able to cope, are moving first. Between October and February 2014, employers with more than 250 staff will have to auto-enrol. Then in April 2014 to February 2018 smaller employers will follow suit.
If the employer doesn’t offer a pension scheme of its own it will have to start enrolling into a third party scheme, the most likely is the government-run Nest but there are private sector alternatives such as NOW: Pensions.
It is up to the employer to select which scheme is offered to their employees.