Once you know your staging date, you will need to start planning – and there is a lot to do!
If you are an employer, you should ensure you understand the basic information on these changes, your staging date and which employees will be affected. A review of existing arrangements should also be undertaken sooner rather than later. A review is also important as The Pensions Regulator, who oversees the implementation process, does carry the power to levy a £400 fixed penalty and escalating daily fines of up to £10,000 on employers who do not take action.
If you are an employee we can also undertake a full and tailored review as to where you sit currently within the proposed workplace pensions reform regulations.