Businesses miss auto-enrolment deadline
The number of businesses setting up their workplace pensions after their auto-enrolment staging date has increased in the last year, according to research by Aviva.
16% who have applied for a workplace pension through Aviva did so after their staging date, up from 1% in Q1 2016.
25% made preparations more than 2 months in advance from their staging dates, the lowest on record.
- 31% made preparations in the month before their staging date in Q1 2017, compared to 35% a year ago
- 16% made preparations in the month of their staging date, compared to 17% 12 months ago.
Andy Beswick, managing director of business solutions at Aviva, said:
“SMEs tend to be less well-resourced and aren’t blessed with large HR departments or budgets to help them through their auto-enrolment journey.
“What the figures do highlight is that there is still work to be done to make business owners aware of their obligations."
Talk to us today about your auto-enrolment responsibilities.