SMES AND PENSION AUTO-ENROLMENT DEADLINES
November 11 2014.


28,000 businesses have now been enrolled in automatic workplace pensions since the scheme began two years ago but with the deadlines for businesses employing fewer than 50 now on the horizon, millions more must prepare now.


Businesses with 30-49 employees must be ready for their automatic enrolment staging dates of between August-October 2015, while those with fewer than 30 employees will begin staging as early as June 2015 if selected by the regulator for the early staging trial run, or otherwise from November 2015 through to 2017.

However, the Pensions Regulator estimates that as many as 20 per cent of small employers and almost half of micro-employers are unaware of their staging dates. Many assume their staging date is based solely on their current number of employees rather than those recorded in April 2012 via their PAYE number.

The Regulator also found that 89 per cent of small businesses and 64 per cent of micro employers have sought or are planning to seek consultation with external advisers. With 99.2 per cent of the UK’s 4.9m private sector businesses employing between 1-49 workers, those who have not yet planned will face stiff competition for advisers.

Staging dates can be determined by entering PAYE references into a tool provided by the Pensions Regulator

More information is available HERE.