Auto Enrolment a Nightmare for small businesses, without help or guidance.
Auto Enrolment a great idea from the Government, to ensure that everyone has the option of a Pension.
However, the reality at this moment of time is something else for a small employer.
Every employer big or small has to be in a position to offer a pension to any staff that qualify or would like be involved, between the ages of 16-74.
The key factor is how many staff are employed in the business, this dictates the date that they have to comply with implementing a scheme that complies with the legislation.
If you ask any small business man if he knows anything about Auto Enrolment, the majority will not have a clue, you mention the Government Pension Scheme and they say “Yes”, but it doesn’t apply to them, they only have part timers.
You speak to anyone trying to implement a scheme and they are struggling, even a number of accountants. MORE