automatic enrolment

Small and Micro-Businesses Next in Line for Auto-Enrolment

Small and Micro-Businesses Next in Line for Auto-Enrolment

Today marks the automatic enrolment (auto-enrolment) deadline for employers with 30-49 employees, and companies with 30 employees or less are advised to prepare for auto-enrolment as their staging date nears. The revised government auto-enrolment dates mean firms with under 30 workers need to start enrolling staff in a workplace pension from January 1 2016 with the deadline set for April 1 2017. According to research by Moorepay, thousands of small businesses with 30-49 staff will miss the latest staging date and over a quarter of firms with less than 50 employees remain in the dark about their auto-enrolment responsibilities. CEO of Moorepay, Alison Dodd, said: “There really is no defence for the UK’s small and medium businesses against missing today’s auto-enrolment staging date. “These ... »

Micro Firms should be Exempt from Pension Reform Timebomb

All micro firms (small businesses with 10 employees or fewer) should be exempt from the automatic enrolment pension scheme due to come into force in 2012, the Federation of Small Businesses (FSB) said today. The FSB is calling for all micro businesses to be exempt from automatically enrolling their staff into a pension scheme to remove the regulatory and financial burden on these businesses. Responding to the consultation, Government review of automatic enrolment, the FSB warns that the cost and time spent on administrative work will damage micro firms and that the pension schemes set up by Government do not meet the needs of micro firms. The proposed changes are also very complicated for small businesses to put in place, and the FSB is concerned that small firms do not have the expertise ... »