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What is a ‘Workplace Pension qualifying pension scheme’?

A ‘workplace pension qualifying pension scheme’ needs to meet certain minimum criteria in relation to contributions and benefits and must have the ability for employers to auto enrol without requiring employees to join themselves.

In addition to this, a workplace pension qualifying scheme must also:

  • Have a default fund available;
  • Be able to support you with appropriate disclosure of information;
  • Allow non-eligible employees to opt in; and
  • Allow employees to opt out within the opt out period.

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With the introduction of workplace pensions already underway for a number of larger businesses in the UK, it’s important that you act now and start preparing – there’s a lot that can be put in place earlier.

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