Automatic Enrolment

Over the next few years nearly a million businesses will be compelled to offer their staff a work place pension.

Because of the scale of the operation support through this process will be at a significant premium. Delaying preparation therefore leaves you open to significant risks including:

• Not being able to source sufficient support and advice
• Failing to properly evaluate employee eligibility
• Non-compliance with staging deadlines (which could result in significant fines)
• Major business disruption as manpower and resources are thrown at complying with obligations
• Fines and potential custodial sanctions imposed by The Pensions Regulator

Research suggests that the vast majority of small businesses are not aware of the obligations facing them.

We have produced a simple eight point statement (see below) which sets out the bare facts that you need to know to ensure that your business is not put in jeopardy due to unsustainable pressure to meet deadlines. Please share this as widely as possible with colleagues, friends and associates.

We will be able to handle the payroll side of things, but some things we cannot help with, particularly choosing a pension provider.

You should visit the pensions regulator’s webpage and create your action plan. You will need your PAYE reference for this.