Business and Other Briefings
DWP: Encouraging or forcing workers not to save in a workplace pension will become unlawful under proposed changes to the Pensions Bill, Minister for Pensions Reform Mike O'Brien has claimed, as the DWP intends to amend the current Pensions Bill during the Lords stages to prohibit employers from offering ‘inducements - such as higher salaries or one-off bonuses - which encourage workers to opt out.
The amendment will also cover circumstances where employers simply try to force their workers to opt out. This will leave individuals free to decide if they want to be a member of a workplace pension scheme. The ban would come into effect with the introduction of auto-enrolment from 2012.
It is also proposed that there should be a time limit within which complaints have to be made or investigations launched by the Regulator. This will provide certainty for employers and workers and discourage the possibility of frivolous claims. There are differing views among stakeholders on how long that period of time should be. The DWP therefore wishes to consult before setting out the final time limits in regulations.
This Brief gives details of an article: VAT:Set off where right to claim overdeclared tax is transferred.