FORTHCOMING DEVELOPMENT: The Pensions (Extension of Automatic Enrolment) (No. 2) Bill received Royal Assent on 18 September 2023 as the Pensions (Extension of Automatic Enrolment) Act 2023 (the Act) and was published on 19 September 2023. The Act gives regulation-making powers to the Secretary of State for Work and Pensions to (i) reduce the lower age limit at which otherwise eligible workers must be automatically enrolled and re-enrolled into a pension scheme by their employers, (ii) remove the Lower Earnings Limit from the qualifying earnings band so that contributions are calculated from the first pound earned, and (iii) modify the requirements of the annual review of the qualifying earnings band. The changes on eligibility for automatic enrolment are to be implemented after a period of consultation on the precise implementation approach and timing. The date for the coming info force of section 1 of the Act is set to be ‘on such day or days as the Secretary of State may by regulations appoint’. For further information, see: DWP press release, Work and Pensions Committee welcomes Royal Assent for legislation on expanding pensions auto-enrolment, LNB News 19/09/2023 32...
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