Plenty of time to understand pensions calculator rules, says John De Groot

www.moneynews.co.uk > Pensions calculator > Plenty of time to understand pensions calculator rules, says John De Groot

Plenty of time to understand pensions calculator rules, says John De Groot

Fri 19th Nov 2010

There is still plenty of time left for employers and staff to understand the new regulations relating to auto-enrolment on pensions, John De Groot has claimed.

The former Enterprise Agency chief executive for West Sussex pointed out that small businesses will not be affected by the reform until 2014, which leaves a few years for firms to get their heads around the new rules.

Mr De Groot said: "There is already a lot of information available from the Department for Work and Pensions (DWP) and private pension providers."

However, he stressed that small businesses should not take this as a sign to relax.

In his opinion, the best strategy would be to get "ahead of the game" while there is time.

The DWP pension reforms making it mandatory to offer an auto-enrolment pension to employees will be phased in gradually, Mr De Groot noted.

A recent study by MetLife Europe showed one-third of Brits over 50 are making contributions into a pension.

Click here for more pensions calculator news

Related News : Pensions calculator
	Pension savers reach record low
	Brits 'should be able to save at ATMs'
	High earners pension tax relief to change
	Pensions 'are still confusing for many'
	EU proposals could damage UK pensions
	QE 'has negative impact on pensions'
	TUC advises on boosting pensions savings
	Delaying retirement 'significantly boosts pensions income'
	Pay freezes 'set to continue'
	Brits 'must be increasingly resourceful'