Pensions Act 2008
The Pensions Act 2008 (c 30) is an Act of the Parliament of the United Kingdom. The principal change brought about by the Act is that all workers will have to opt out of an occupational pension plan of their employer, rather than opt in. A second change is the creation of a National Employment Savings Trust, a public pension provider for those who do not have an occupational pensions, which will function as a low-fee pension scheme in competition with existing funds.
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| Long title | An Act to make provision relating to pensions; and for connected purposes. |
|---|---|
| Citation | 2008 c 30 |
| Introduced by | Peter Hain |
| Territorial extent | United Kingdom |
| Dates | |
| Royal assent | 26 November 2008 |
Status: Amended | |
| History of passage through Parliament | |
| Text of statute as originally enacted | |
| Revised text of statute as amended | |
Contents
The Pensions Bill 2011 working its way through Parliament makes a number of amendments to the Act, ahead of its due date to be brought into force in 2012.
See also
- Minimum employer contribution
- Pensions in the United Kingdom
- National Employment Savings Trust
- Pensions in the United States
- Pension Protection Act of 2006, a law allowing (but not requiring) employers to automatically enrol employees into defined contribution schemes
- State pensions Acts
- Private pensions Acts
Notes
- The citation of this Act by this short title is authorised by section 151 of this Act.
References
- 'All firms must offer pensions, government agrees' (27 October 2010) BBC News
- E McGaughey, A Casebook on Labour Law (Hart 2019) ch 6(4)
External links
- Department of Work and Pensions explanatory page
- The Pensions Act 2008, as amended from the National Archives.
- The Pensions Act 2008, as originally enacted from the National Archives.
- Explanatory notes to the Pensions Act 2008.
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