Often referred to as the National Employment Savings Trust (NEST), an employer is obliged to auto enrol employees into the workplace pension scheme within six weeks of qualification. This may be within six weeks of starting employment or when from the date they qualify/opt in to the scheme. Prior to auto enrolment, the employee must be given all the relevant documentation so they are aware of the financial benefits and risks.
The workplace auto enrolment pension scheme, the employee has one month from the date of enrolment to let their employer know they wish to drop out. Their decision must be confirmed with the appropriate documentation. This document should be retained by the employer to show this was the employee’s decision.
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An employer has a range of responsibilities which include:-