NOW: Pensions

UK Businesses Fail to Prioritise Auto-Enrolment

UK Businesses Fail to Prioritise Auto-Enrolment

Over a quarter (27%) of UK businesses completed their automatic enrolment (auto-enrolment) application within just one month of their staging date – with 10% doing so after the date had passed – new research by NOW: Pensions has found. While 31% of companies signed up to auto-enrolment at least six months before the staging date, the research has found that the majority of business owners have “continued to procrastinate” and are under-prepared for the long-term effects of a workplace pension too. Moreover, the report added that employers which are late to enrol not only cause themselves unnecessary stress but also limit their options in regards to pension providers. The latest auto-enrolment deadline – for companies with 30-49 employees – passed earlier this month (Oct 1). Thi... »