Pre-Budget report – Revised launch of AE. In light of the ongoing global crisis changes made to the timetable for implementing AE to ease the financial burden on employers. Will start, as planned, in Oct 2012, but will now run over a five year period, with the smallest employers having until April 2017 to comply, 15 years after the first Pensions Commission Report.
New companies not required to enrol staff until Feb 2018.
Employer contributions also to be phased: starting at 1% in 2012 and rising to 2% in 2016 and reaching the full 3% payment in 2017.
