Since the Pensions Commission issued its final report in November 2005 (the Turner Report), the Government has been looking to reform the UK pensions framework to help individuals with little or no pension savings.

Some detail of the Government's proposals is already known. For example:

• Employers will be required to auto-enrol their employees into some form of pension scheme. This can be via their existing schemes or the new Personal Accounts scheme.
• Total contributions of 8% will be required (4% employee, 3% employer, 1% tax relief).
• The Personal Accounts scheme will be established to enable employers who do not currently operate a pension scheme to satisfy the new employer duties.

It is important, at this stage to be aware of the Government's reforms and to start to consider the changes which you may need to make. Then, once the final detail is known, those changes can be properly managed.

As more information becomes available we’ll add bulletins to keep you up to date with any changes, the implications for the pension industry and what it means for you and your business.

You can read our first bulletin now, just follow the link below.