Fast food giant McDonalds will use the National Employment Savings Trust (NEST) for 35,000 hourly-paid workers as part of a two-tier auto-enrolment solution.
Any eligible hourly-paid workers at the burger chain will be auto-enrolled into the NEST, but salaried workers will be placed in its existing Friends Life stakeholder scheme. McDonalds will begin auto-enrolment for salaried staff on 1 January 2013 and will use postponement to delay auto-enrolling hourly-paid staff until 13 January to fit in with the pay period. About 2,000 employees are eligible for the Friends Life scheme - although figures were not available for the number of existing members - while 35,000 workers face auto-enrolling into NEST. McDonalds has 90,000 employees in ...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes