Pensions Reform under the spotlight at REC briefing sessions
Following the Pensions Bill receiving Royal Assent earlier this month, the REC has stepped up its activity by holding two briefings sessions on how changes to the pensions system will impact on recruiters. The events included the participation of the Pensions Regulator and the National Employment Savings Trust (NEST) as well as over 100 recruitment providers.
Under the Pensions Act, employers will have to automatically enrol their employees into a pensions scheme. This will also include recruitment agencies who will have to automatically enrol their temporary workers after 12 weeks on assignment.
Commenting on the latest member briefing events, Scott Pendry, Policy Advisor at the REC said:
“Post-AWR, pensions is the next major regulatory challenge facing our industry. This week’s briefings were the start of a wide-ranging support programme to ensure that recruiters can prepare their business and their workers for the changes. Auto-enrolment will be phased in from October 2012 and agencies are keen to get to grips with the practical implications as soon as possible."
Commenting on his participation and on the need to support employers and recruiters, Toby Christie, Employer Compliance Policy Manager from The Pensions Regulator said:
“Helping more than 1m employers to get ready for automatic enrolment over the next five years is a major challenge. We will provide high-quality information to every employer in the country, making it as simple as possible to comply."
Brenda Vannan, Employer Relationship Manager at NEST – A potential scheme provider for recruitment firms - added:
“The recruitment community is of great importance to NEST. We have designed our processes to be as simple as possible, whilst being flexible enough to work well for agencies who have workers on variable assignments. NEST has been established with 2012 in mind and will help thousands of employers meet their new duties."
The REC has produced a Pensions Briefing for all members. To view the document, please click here.http://www.rec.uk.com/corporate-members/lobbying <http://www.rec.uk.com/corporate-members/lobbying>