SMEs struggle to meet auto-enrolment deadline

CFM News Update: Many small businesses will struggle to meet the deadline to have an auto-enrolment pension scheme in place for employees if the government does not extend the current deadline, according to the Independent’s David Prosser.

On 1 January, employers with fewer than 30 members of staff must begin the detailed work of auto-enrolment compliance and, by April 2017, every employer must be up and running with auto-enrolment. However, research published in October by Now: Pensions found that 10% of small businesses are already missing their deadlines, with a further 25% only just hitting the mark. Furthermore, the Pension Regulator has no mandate to treat smaller employers less harshly than larger firms, and has already ruled out doing so.

The Independent, Page: 51

Posted on December 21st 2015

Loading... Updating page...