Employers what now?
Once the scheme has been established and the employees enrolled, the employer duties don’t stop there – scheme administration requires on-going maintenance to keep it ticking over
1. Paying regular contributions into the pensions
2. Monitor the ages and earnings of staff and any new joiners
3. Manage requests to join or leave the scheme
4. Keep and maintain accurate records
5. Re-enrolment of any employees who opted-out every three years
6. Increases in contributions
Finally, all employers should look to the United States where lawsuits have been brought in relation to the fiduciary duty of care in selection of and oversight of the master trust of their choice and that it continues to meet the needs of their employees. A debate in the House of Commons has already considered introducing a new clause but was withdrawn.