On September 19, 2023, the Pensions (Extension of Automatic Enrolment) Act 2023 relating to the automatic enrolment in occupational pension schemes was published on legislation.gov.uk, the official website of the UK government for publicizing legal texts. The Act relates to the Pensions (Extension of Automatic Enrolment) (No. 2) Bill in that it authorizes the Secretary of State to
– reduce the age limit for becoming automatically enrolled in occupational pension schemes; and
– eliminate or adjust the „lower earnings limit“ below which employers do not have to enroll their staff into such schemes.
The specific age reduction and adjustment of the „lower earnings limit“ will be implemented via a corresponding regulation.
Other Features
pension funds
Date Published: 2023-09-19
Date Taking Effect: 2023-09-18
Regulatory Framework: Pensions Act 2008
Regulatory Type: law
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