What decisions do you need to make?

You’ll have to decide whether to automatically enrol eligible jobholders into your own existing or a new company pension scheme (if it meets the conditions for an auto-enrolment scheme) or NEST. You could choose one solution for one set of jobholders and another for a different set of jobholders.

Which solution you opt for depends on many things. Simple, quick and efficient administration will be paramount – collecting the right contributions at the right time and applying them promptly will be crucial in running a successful scheme.

Pension providers offer various flexible solutions to help meet this need and have extensive experience in this area.

The next thing to decide is how much you want to contribute and how you'll accommodate the additional cost. You may want to discuss this with your financial adviser – you can also see our factsheets for more information

Although the details aren’t finalised yet, it’s certainly worthwhile starting to look at pensions reform and discuss your new responsibilities and the decisions you have to make with your adviser now.

If you already offer your workforce a pension scheme then your new responsibilities may mean a much higher membership take-up.

By looking at the impact in advance it may lessen the workload in 2012.