Auto-enrolment might be old news…but the pension changes haven’t stopped. Neil Esslemont, Head of Industry Liaison at The Pensions Regulator and Henry Tapper, Founder of First Actuarial take to the stage to discuss the latest pension changes.
“The employer has a duty to chose a pension scheme if they need one for auto-enrolment and if there staff are eligible to enrol them into that pension,” says Esslemont.
However, Tapper highlights that there are several questions that employers might be asked, as such: ‘how do I know what I am paying for it?’, ‘How do I know what value I am getting from it’, and ‘How do I find out how it is invested.’ And many employers are fearful of giving these answers because they don’t want it to be deemed as advice.
“My challenge to the regulator is to make it easier for us to answer the questions that might be coming to us as time goes by,” says Tapper.
