Occupational Pensions

(asked on 17th October 2018) - View Source

Question to the Department for Work and Pensions:

To ask Her Majesty's Government what steps they are taking to check the accuracy of contributions being paid into pension schemes under automatic enrolment.


Answered by
Baroness Buscombe Portrait
Baroness Buscombe
This question was answered on 31st October 2018

Automatic enrolment has been a great success, with over 9.9 million employees enrolled and more than 1.3 million employers having met their duties to date. Government has put in place a robust, proportionate compliance framework. This is administered by The Pensions Regulator, and includes detailed regulatory guidance about how to comply with the law. An employer is required to select a qualifying pension scheme; enrol qualifying staff into that scheme, and deduct any contributions payable under automatic enrolment.

Qualifying pension schemes for automatic enrolment are subject to the same regulatory framework as all trust-based workplace pension schemes, also overseen by The Pensions Regulator. The Regulator has published codes of practice on its website setting out how trustees of defined contribution pension schemes and managers of personal pension schemes should monitor the payment of contributions; provide information to help members check their contributions; and report material payment failures to the Regulator.

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