Have you been contacted yet by the pensions regulator?
I got my brown letter this morning:
"The law on workplace pensions has changed. Every employer with at least one member of staff must automatically enrol those who are eligible into a workplace pension scheme and contribute towards it"
In otherwords, anyone who has an employee who earns over £10k per year will now have the right to a workplace pension which the employer (you) needs to contribute to.
Ignoring it will land you in hot water with fines from the Pensions Regulator.
As this is a massive administrative change, it is being rolled out in stages. Big business has been dealt with first, and now us smaller fish are being allocated "staging dates" when we need to be compliant and the law comes into effect. For us, we have a staging date of October 2016, so there is no immediate panic, but you do need to start preparing.
Must admit, I'm not really up to speed on the in's and out's or what the costs will mean. I've heard figures of £300 - £600 a year bandied about, but this is going to be dependant on salaries. I need to appoint a nominated pensions contact by the 30th June, I assume then I'll find out more information about actual costs.
I nominate my accountant!
Team meeting tomorrow - on the agenda, salary reduction to under £10k and redundancies 
I can see the idea behind it, as the state pension will dwindle away to nothing in the decades to come. But in reality, any loading or increase of contributions will be carried by the employee, as I suspect most employers will factor this in to the salary costs.
So has anyone else received theirs yet, and are you in the process of getting it sorted out, or are you waiting for Pension police to catch up with you? Any thoughts about the scheme, good or bad?
For anyone worried, here is a link to the Pension Regulator website
