auto enrolment pension scheme

Employee Complaints Cause Businesses To Sweat Over Pension Regulations

Employee Complaints Cause Businesses To Sweat Over Pension Regulations

UK businesses are becoming increasingly worried their not fully compliant with pension regulations, as their HR departments are fielding more and more employee complaints on the matter. According to a report by Portus Consulting, 35% of UK businesses are now worried they’re falling afoul of the law and leaving themselves open to possible legal action. In the past two years, 19% of all UK employees have contacted their employer about pension scheme issues with 4% complaining about the performance of their savings. Regardless of some employee dissatisfaction, workers appear to be relatively satisfied on a whole with their pension set-up however, with 48% saying the service they’re provided with is effective and just 15% branding it “disappointing”. Steve Watson, Portus Consulting commercial ... »

Concerns Among Small Businesses as Deadline For Auto-Enrolment Looms

Concerns Among Small Businesses as Deadline For Auto-Enrolment Looms

52% of UK small and micro businesses are not confident that their business will be ready to offer staff a workplace pension scheme despite the goverment’s fast-approaching auto-enrolment deadline. That’s according to a new report by Geniac, which surveyed 514 UK businesses with turnover of £500,000 or less. By law, all small businesses will be required to provide a workplace pension for eligible staff by 2018 while firms with 30 staff or fewer have to do so by April 1 2017. Businesses without PAYE schemes must then start the auto-enrolment process from April 1. Enterprises that fail to implement such practices could face fines of up to £500 a day, with the survey having suggested that these fines could affect over half of all small enterprises. Mike Galvin, co-founder of Geniac... »