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Useful areas

Employers and pensions

Pensions partnership

The Government wants all pensioners to have a decent and secure income in retirement and to share fairly in the rising prosperity of the country. This means, among other things, ensuring that people are independent and protected in retirement. People are living longer than ever before, and this brings fresh challenges.

Employers and Government need to work together in partnership, along with individuals and the financial services industry, to help people plan for their retirement and make informed choices about how and when to save and how long to work.

Employers have a major role to play in the partnership by providing access, information and contributions to pensions for their employees. The workplace is an effective place for people to save - administration is more efficient and there are tax advantages for the employer and the employee.

Changes for pensions

Find out about the Government's pension reforms and how they might affect you as an employer on the Department for Work and Pensions website.

Pensions for your employees

Do you provide a company pension scheme (an occupational pension) for your employees?

If you don't provide an occupational pension scheme for your employees, then you are probably required by law to offer your employees access to a stakeholder pension scheme to help them save for their retirement.

There are also exemptions that apply to some employers. To find out if you are exempt go to our stakeholder pension section, we will tell you whether you are required by law to offer access to a pension scheme to your employees.

This section also tells you how to provide such access.

Changes to the Financial Service and Market Act will now make it easier for employers to promote their own workplace pension to employees. Find out how you can promote pensions at work on the Department for Work and Pensions website.

Combined pension forecasts

If you do offer an occupational pension, then you may be able to help your employees further by providing them with a combined pension forecast.

Our free service allows your employees to see how much money they are likely to receive from both their State Pension and their occupational pension. This will help your employees make informed decisions about their retirement.

Find out more about how to get involved in combined pension forecasting.

Pensions Tax Simplification

From 6 April 2006 there will be a new tax regime for pensions called Pensions Tax Simplification. It will replace the eight existing tax regimes with one. Find out more about Pensions Tax Simplification on HM Revenue & Customs website


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