Growing British businesses have a lot to think about, whether that’s cash flow, investment, recruitment, marketing or expanding. But there’s also a pressing legal matter that needs to be prioritised, which comes in the form of auto-enrolment and the workplace pension.
As one of the most important policy changes in recent years, auto-enrolment and the workplace pensions scheme should now be a focus for every employer in the country. Make sure you don’t leave it too late by having a look at our new digital guide, which heard the stories of four SMEs.
As a new piece of policy, aimed at boosting the pension pots of British workers and ensuring that we do not develop a dependency culture from lack of personal savings, auto-enrolment is now in full swing. But what happens to businesses which do not comply with its framework
Beginning in October 2012 with the largest employers, new legislation in the United Kingdom made it a legal requirement for employers to automatically enrol employees into a workplace pension – and make contributions to it. But just how does each one go about finding a provider that fits the bill
As the number of businesses reaching the date when auto-enrolment duties start, known as the staging date, Real Business has produced a comprehensive checklist to ensure business leaders are not forgetting anything.
As a small employer, you may have already started enrolling your workers into a workplace pension. Understandably, some have questioned how easy it’ll be, but our experience so far suggests a more positive story than might have been expected.
New research has suggested that small and medium-sized businesses (SMEs) are at risk of significant fines for non-compliance with workplace pension regulation, following a spike in whistleblowing reports and enforcement action during 2015/16.
April is creeping ever closer and this year it doesn’t just mark the start of a new fiscal year, but also the launch of the long-awaited Living Wage and for some, their pension auto-enrolment staging date.
Auto enrolment is complex and misapprehensions aren’t uncommon. To help employers navigate their way through, NOW: Pensions has “myth busted” five of the most common incorrect assumptions.
In 2012, auto enrolment for all employees in pension schemes was made law. While this law has come into effect in stages, every business in the UK is expected to have its staff enrolled from February 2018. In order to meet this deadline, businesses will need to be set up from October 18, 2016.
With an expectation of massive non-compliance amongst SME bosses, Paul Gibbons, implementation and technical development manager at Bond Payroll Services, insists it is time to put the record straight.
Hiring your first employee is a big step in the evolution of any business, but many entrepreneurs are unprepared for the sudden added complexity of having to pay employees.