Back in 2012, less than half of private-sector employees in the UK had a pension scheme. Today, that figure is 85% and this huge increase is due to the successful rollout of auto-enrolment. It started with the largest companies and now applies to employers of all sizes with staff earning more than £10,000 a year, and who are aged between 22 and state pension age. However, auto-enrolment poses many challenges for smaller employers…
The quoting process is one of the most important for a business as it is often the first impression a company can make to a potential client and it can say a huge amount about your business.Quite often word and excel documents are used.
The process of auto-enrolment continues to rumble on quietly with the majority of companies passing their staging dates without major incident. However, for the few that fail to comply with their workplace obligations, the consequences can be costly in time and resources.
The auto enrolment time clock has started.
Auto enrolment is not straightforward and will catch the unwary and ill-prepared.
Under the scheme all employers must automatically enrol certain members of their workforce into a pension scheme and will have to make contributions into it – initially it’s a minimum of 1% however this will soon rise to 3%.