9th December 2015
In January 2016, an estimated 135,000 companies are due to take part in the auto-enrolment (AE) process. While this first tranche of organisations with 30 employees or fewer staging is a significant number, it is just the beginning, with 1.3 million micro businesses set to stage over the next two years.However, the vast majority of industry figures expect large numbers of employers to miss their staging deadline. There are a number of questions around small business staging which include:
- Is capacity crunch is a valid concern?
- Will AE bankrupt small businesses?
- Will it take smaller businesses the 100+ days to stage typically incurred by larger companies?
- Are rumours about 20 day staging to be believed?
- Has the Pensions Regulator (TPR) provided enough information about AE for small businesses?
- What is the best way to fund AE – and what proportion of employees will opt out?
- Will existing payroll and pension providers step up to support new AE requirements?
Small and micro employers may be fooled into thinking that they can leave things to the last minute and get everything sorted within a few weeks. This is plainly wrong. There are many aspects of the process that smaller companies may actually struggle to achieve, not least finding providers willing and able to help.With an expectation of massive non-compliance amongst small and micro-employers, this eBook sets the record straight on the AE issues facing small businesses.
