WORKPLACE PENSIONS: COVID-19
May 14, 2021
What do you need to consider?
There are a whole range of issues that pension trustees, employers and their advisers are facing as a result of COVID-19 (coronavirus).
You should focus your activities on the key risks to pension savers:
- benefits need to be paid
- the risk of scams needs to be minimised
- employers need to continue contributing
- savers need support to make good decisions in these challenging circumstances
- some administrative breaches of the law may occur and we will maintain a proportionate and fair approach to any action we may take
The Pensions Regulator will continue to provide guidance in response to emerging challenges and impacts.
Resources for Employers:
- Automatic enrolment and DC pension contributions: guidance for employers
This is guidance for employers about automatic enrolment duties and workplace pension contributions during the COVID-19 situation.
- DB scheme funding: guidance for employers
Here you will find guidance on scheme funding for employers with defined benefit pensions to follow during the COVID-19 situation.
FOR MORE INFORMATION CLICK HERE