pension reform

More charities are preparing for pension reform

A survey conducted by ACEVO with Foster Denovo shows that more charities are preparing for the upcoming pension reform.

This year’s pensions research undertaken by ACEVO and employee benefits specialist, Foster Denovo, indicates that nearly one third (31 percent) still need to consider their strategy in relation to the upcoming pension reform.

However, this figure does represent a decrease from the 47 percent highlighted in last year’s survey, and the 51 percent from the 2010-11 research.

Auto-enrolment will kick in – for the largest organisations – during 2012.

But, at the end of November 2011, the Government announced its plans to defer auto-enrolment for employers with 50 staff or less from April 2014 to May 2015.

In addition, those employers due to begin auto-enrolment from July 2013 may see their staging dates deferred — the Government is due to announce the revised schedule imminently.

Organisations due to begin auto-enrolment before July 2013 will not be affected by these changes.

Nick Carey, policy officer at ACEVO, commented: “Clearly the pressure has eased off for a number of charities. However, whilst this may bring about a sigh of relief amongst some employers, third sector organisations should not use this as an opportunity to ‘rest on their laurels’. Instead this time provides them with the opportunity to plan effectively, in particular the 31 percent who are yet to adopt a strategy.”

To read more and see coverage in the press, please use the links below:
Charity Times and Third Sector Online.