Legal and General has launched a new product to help employers meet the challenges of auto-enrolling staff into a workplace pension from October 2012.
Worksave Select is an assessment tool which has been designed to identify employees who qualify for auto-enrolment. The product will simplify the auto-enrolment process for employers who choose to use Legal and General’s Worksave Pension Trust or Worksave Pension Plan as their qualifying pension scheme.
Ian Mahoney, operations director, workplace savings, at Legal and General, said: “The eligibility rules for auto-enrolment will start to impact large employers from next year, although the legislation is not due to come into force until 1 October 2012.†
“Legal and General recognise employers will want to have a clear understanding of who will be eligible and when to start talking to employees about the pension scheme.”
For more articles on administering auto-enrolment