MPs take evidence on automatic enrolment in workplace pensions
2 November 2011
Commons Work and Pensions Committee takes on how employers might be affected by the costs and administrative requirements of auto-enrolment and explores the extent to which auto-enrolment might encourage saving in workplace pensions
- Parliament TV: Automatic enrolment in workplace pensions and the National Employment Savings Trust
- Inquiry: Automatic enrolment in workplace pensions and the National Employment Savings Trust
- Work and Pensions Committee
Witnesses
Wednesday 2 November 2011, Committee Room 15, House of Commons
At 9.30 am
- British Chambers of Commerce: John Longworth, Director General
- Confederation of British Industry (CBI): Neil Carberry, Director of Employment Policy
- Federation of Small Businesses: Graeme Fisher, Head of Policy
- Trades Union Congress (TUC): Nigel Stanley, Head of Campaigns and Communications
At 10.30 am
- The Pensions Advisory Service: Marta Phillips, Chief Executive, and Alison-Jane Bailey, Head of Policy and Technical Development
- Pensions Policy Institute: Niki Cleal, Director, and Chris Curry, Research Director
Background
The Work and Pensions Committee continues its inquiry into automatic enrolment in workplace pensions and the National Employment Savings Trust.
The Pensions Act 2008 introduced reforms to workplace pensions.
Beginning in October 2012, a staged process will be introduced which will require all employers to automatically enrol their workers into a qualifying pension scheme if they are not already enrolled in one ("auto-enrolment").
Employers will also be required to contribute towards workers' pensions.
A new pension scheme called the National Employment Savings Trust (NEST) has been established by the Government to provide a simple, low-cost pension scheme. Employers may choose to enrol employees into a NEST scheme or another existing pension scheme.
This is the second oral evidence session for this inquiry. The 9.30am panel includes representatives of businesses and employees and will examine how employers might be affected by the costs and administrative requirements of auto-enrolment.
The 10.30am panel will explore the extent to which auto-enrolment might encourage saving in workplace pensions. The panel will also consider the transparency of pension charges and the likely impact of the restrictions that the Government has placed on NEST.
Future evidence sessions
The committee expects to hold further evidence sessions on the following dates:
- Wednesday 30 November (9.30am): representatives of private pension providers
- Wednesday 14 December (9.30am): National Employment Savings Trust (NEST)
Further details will be announced nearer the date of the sessions.