Business

Smallest business urged to meet pension deadline

Small businesses with fewer than 50 employees are being urged to prepare for auto-enrolment under government regulations.

Share this article

Share this article

Small businesses with fewer than 50 employees are being urged to prepare for auto-enrolment under government regulations.

Business

Smallest business urged to meet pension deadline

Small businesses with fewer than 50 employees are being urged to prepare for auto-enrolment under government regulations.

Share this article

Small businesses with fewer than 50 employees are being urged to prepare for auto-enrolment under government regulations.

Financial adviser Lighthouse Group says businesses with 30-to-49 employees are being phased in between August and October 2015, while those with fewer than 30 will begin staging as early as June 2015.

The Pension Regulator estimates that one-in-five small businesses and as many as half of micro-businesses are unaware of their staging dates.

To find out your staging dates the Pensions Regulator has created an online tool which you can access by clicking the link at the bottom of the page.

Malcom Streatfield, CEO of Lighthouse Group, said: “Although a staging deadline of next year may seem like plenty of time to prepare, the fact is that pensions enrolment takes a great deal of work. Employers must ensure all personnel data is correct and that their payroll system is capable, as well as choosing their pensions provider.

“All of this is a huge drain on resources for smaller employers, so it is little wonder then that so many are seeking help from advisers. However, those who have yet to take action will find themselves at the back of a long queue and, even with external help, time is running out quickly.”

Related Articles
Get news to your inbox

Smallest business urged to meet pension deadline

Share this article