6th August 2015

A&E in a box: Sleepwalking towards a pension nightmare

Latest report is a further 500,000 employers are to stage than expected making it 1.8 million employers to stage over the coming months.

For most of the 1.8 million small businesses yet to comply with auto enrolment regulation there is still time to wake up to the auto enrolment challenge and avoid the heavy fines and the additional potential damage their business might face by taking a number of simple steps.

As you know the duties and responsibilities with auto enrolment firmly sits with the employer. This means employers take responsibility for additional tasks to comply with this regulation. Broadly speaking these additional tasks can be defined within 3 interlinked ‘circles of auto enrolment’. Payroll, Pensions and Regulation.

The tasks employers need to complete will create significant challenges without preparation. For the ‘daydreamers’ (the employers who leave the auto enrolment tasks until the last minute) or the ‘sleepwalkers’ (the employers who are currently ignoring auto enrolment) this creates a number of issues including financial penalties, the time cost associated with having to try to comply within a short time period and the potential reputational damage of not complying effectively.

How ready are you and your clients?  We're doing some research across the UK and would appreciate 2 mins of your time, and if you're not helping clients with Auto Enrolment it's even more important we hear from you.  It's a really quick survey which you can find here:  http://fluidsurveys.com/surveys/bridget-WNT/auto-enrolment/
We'll let you be the first to know the results if you're interested.

Auto-Enrolment, Pension Reforms, Pensions