The previous Labour government put the wheels in motion and our current Con/Lib government have decided it’s not such a bad idea. The National Employment Savings Trust, or NEST is coming in – and it is going to affect a lot of people.
Starting in 2012 employers will have to enroll all eligible employees into a ‘qualifying workplace’ pension scheme – no exceptions….and start paying contributions for all eligible employees who they have just enrolled and that do not opt out – no exceptions…
Heavy financial penalties and even prison terms are threatened for those who do not comply.
The government has introduced their own qualifying workplace pension scheme called NEST.
Is this the right option for you or your employees?