Kate Smith, Regulatory Strategy Manager at Aegon comments: “The UK’s smallest employers are starting to auto-enrol their workforce into pension schemes, many of which will have little or no experience of running a workplace pension. |
We already know from our own experience that many employers don’t know their staging date so the Pensions Regulator’s findings are of little surprise. We have worked hard with our employer clients and their advisers to make sure they are aware of their exact staging date and the actions they need to take to get ready for automatic enrolment and avoid a fine.
“We can’t stress enough how important it is to continually remind employers, yet to reach their staging date, that planning and understanding what they need to do and what deadlines they need to meet is key to them meeting their responsibilities and staying on the right side of the law. The Pensions Regulator needs to keep the momentum going to get automatic enrolment compliance at the top of micro employer’s priorities.” |
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