Pension rules updated

New pension rules are to come into effect in October 2012 for larger organisations, with smaller organisations being required to comply in stages in subsequent years. The new rules require workers to be subscribed to a work based pension scheme and for employers to offer a 3% minimum contribution, but employees may opt out if they wish.  The Pensions Regulator has published an online leaflet on the planned changes.

http://www.thepensionsregulator.gov.uk/docs/intro-to-workplace-pension-changes-2011.pdf