With the introduction of automatic enrolment, the decision regarding workplace pensions now comes down to the detail of which scheme or schemes is right for the organisation and employees, and choosing a workplace pension scheme is only the start of it. Workplace pensions need to be continually reviewed in line with an ever-changing body of legislation. Employers need to invest in effective communication with employees, not only to meet legal requirements and ensure employees understand their options and the decisions they need to make, but also to raise awareness of the value of the benefit.
This factsheet explores the different types of workplace pension and current legislation governing employers' pension arrangements. It addresses strategic issues in workplace pensions with a series of questions and reflections to use when reviewing existing pension arrangements.