Auto-enrolment in the technology sector

Historically, pensions have been a problem for traditional industries such as manufacturing. Young, dynamic industries such as the technology sector have perhaps felt rather smug that they are not embroiled in the complexities that surround pension provision, focusing instead on remuneration based on pay, bonuses and share incentives, and expecting employees, who tend to have relatively high mobility between jobs, to provide for their own retirement.

However, this is changing with the government’s “automatic enrolment” regime, which may be the biggest change ever to the law on workplace pension provision. All employers will be required to put their employees into a pension scheme, make contributions to it and (if they choose not to cover all the cost) deduct contributions into the scheme from employee’s pay. Employees can opt out after the event, but must be put back in and given the chance to opt out again every three years…

If you are registered and logged in to the site, click on the link below to read the rest of the Taylor Wessing briefing. If not, please register or sign in with your details below.

 

Briefings from Taylor Wessing

View more briefings from Taylor Wessing

Analysis from The Lawyer

  • merger deal

    Corporate crunch time: who will triumph at The Lawyer Awards 2014?

    As the equity capital markets rocketed back into favour and global M&A saw at least a partial return to form, there have been some rich pickings for The Lawyer’s Corporate Team of the Year award shortlisted firms in 2014. 

  • singapore orchid

    Singapore: Cash course

    The city-state is working hard to become a global wealth management hub, and law firms are gearing up for a prosperous new world

View more analysis from The Lawyer

Overview

5 New Street Square
London
EC4A 3TW
UK
http://www.taylorwessing.com

Turnover (£m): 228.00
No. of lawyers: 860
Jurisdiction: UK
No. of offices: 4
No. of qualified lawyers: 67 (International 50)

Jobs