Earlier this year, the government announced changes to pension schemes resulting in Workplace Pension Reform which will be phased in over a 4 year period from October 2012. Large to medium sized companies will be first, and small companies starting from May 2015 and mandatory for all by October 2016.
This pension reform will mean that all employers must provide a Qualifying Pension Scheme and opt all employees into their scheme whilst also making a minimum Employers Pension Contribution (employees will have 3 months to choose to opt out).
You will need to start planning towards having a compliant version of Sage payroll when these changes take effect. Sage 50 Payroll 2012/13 has made some preparations in this area, but assuming more details come from the government, more will be added in the next version due out in February 2013.
