Auto-enrolment sets tight deadlines

The Department for Work and Pensions (DWP) has issued a consultation paper and draft regulations on the automatic enrolment process into a qualifying workplace pension scheme, which can include Personal Accounts. The regulations set out the arrangements, including the flow of information from employers to their employees, deduction of contributions, arrangements for individuals to opt-out of workplace pension saving and to receive refunds of any contributions that might already have been taken, and finally the arrangements by which some employers can postpone automatic enrolment provided that they offer sufficiently generous pension provision to their workers.