workplace pension auto enrolment

Have you offered workplace pensions yet?

admin News, Pensions

NEARLY a million small businesses are warned today that they risk breaking the law if they fail to offer staff a workplace pension.
Hundreds of thousands of builders, plumbers, hairdressers and shop assistants are losing out on savings while workers at major firms are benefiting from lucrative schemes.
Automatic enrolment started in 2012 with the biggest employers that tend to have the most experience of pensions. It is now being rolled out to smaller employers, some employing just one or two people.
The Pensions Regulator said in the first three months of this year alone, 136,000 small and micro employers complied with their responsibilities under the Pensions Act, an average of one every 57 seconds.
In total, around 1.3 to 1.4 million UK employers will eventually have automatic enrolment duties to meet.