Auto enrolment and NEST seminars

a practical guide to implementing the workplace pension reforms

From 2012, employers will have a new duty to auto enrol all employees into a qualifying workplace pension scheme or the National Employment Savings Trust. Crucially it will be mandatory for employers to contribute a minimum 3% to their employees’ pension pots, when the scheme is fully in force. This legislation will change the pension landscape and have a major impact on reward strategy.

Recognising that absorbing this new duty is going to be a key theme for employers over the foreseeable future, EEF has teamed up with NEST, BDO LLP and BROADSTONE to run half day, practical seminars that explain the new requirements and answer the main questions being asked by our members, such as:

  • Can we model how many employees will take up the option?
  • How will we absorb the cost of increased pension contributions?
  • What strategies can we deploy to mitigate the impact?
  • What will be the effect on our existing pension arrangements?
  • Can we maximise the tax and NIC efficiency of spend on pension benefits?
  • Is now the time to think about salary sacrifice arrangements?
  • What changes do we need to make to our personnel documentation and our procedures?
  • How will NEST work with employers to help them fulfil their auto-enrolment duties?

Who Should Attend?

This seminar focuses on strategic issues and practical implementation. It would benefit:

  • Finance Directors
  • Managing Directors
  • HR Directors
  • HR Managers
  • Pension Managers
  • Payroll and Pay and Benefits Managers

Why Attend?

  • a one stop shop overview and update of the law – which is in the process of being changed by the Pensions Bill
  • a fully rounded view taking into effect the impact of auto enrolment on reward strategy and employee relations
  • the insights to help them review their approach to pension provision
  • an understanding of what is involved in introducing salary sacrifice for pensions
  • an understanding of the timescales involved, and the employment law and HR issues you need to plan for

Programme

Key aspects of the workplace pension reforms

  • Pensions Bill update
  • National Employment Savings Trust
  • staging
  • qualifying earnings and pay reference periods
  • employer contributions
  • information to employees
  • auto-enrolment, waiting periods and re-enrolment
  • agency workers
  • Pensions Bill update 

An introduction to the NEST scheme

  • How will NEST work with employers? 

Is your existing pension scheme a qualifying alternative to NEST?

  • Evaluating your existing scheme
  • What changes might you need to make?
  • What are the challenges for existing DC schemes? 
  • Transfers

Assessing the impact on your organisation

  • Modelling the impact on the wage bill
  • Strategies for mitigating the cost
  • Relationship with reward strategy
  • Salary sacrifice schemes
  • Impact on payroll processes
  • Revising HR and pension administration procedures
  • Record keeping

Implementing changes to terms and condition about pension

  • Pension information and consultation obligations
  • Achieving change/avoiding claims 

The challenge: employee communication & education

  • Role of NEST
  • Default investment options
  • The communications challenge

Panel questions

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