Personal accounts - a pensions revolution

Employee pension enrolment and employer contributions are to be made compulsory as part of the Government's attempt to tackle the UK's looming demographic crisis. These provisions, contained in the Pensions Act 2008, are due to come into force in 2012 and cover the automatic enrolment of qualifying workers into a qualifying workplace pension scheme and a duty on employers to make contributions to such a scheme. To ensure that employers are able to comply with these duties a universal personal account scheme is being created.

Wragge & Co's pensions experts provide further guidance on the personal account scheme.