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Thousands of small and medium sized businesses across the UK are heading towards a ticking time bomb. Why? Quite simply, they don’t have their pensions auto enrolment schemes up and running, and this will soon mean fines and penalties.
As 2017 is now well and truly underway, many businesses have started to plan their goals for the year ahead and put objectives into place. For many small enterprises, one of the biggest goals of the year should be to ensure their business gets its auto-enrolment sorted, and to create a workplace pension scheme.
There’s no doubt that it can be fun to leave some things until the last minute, that said, there is definitely one thing that is decidedly not fun to leave until the very last minute – your pensions auto-enrolment tasks.
Wouldn’t it be amazing if you could flip a switch and be presented with a clean slate in your personal and business life?
It’s the new year, and now that it is time to ring in 2017 it is also time to start thinking about your auto-enrolment options. If you are a small or medium business owner, you already know that your time is running out – your staging date is on its way at breakneck speed.
Auto-enrolment has been a hot topic in the world of business for the past five years. Introduced by law in 2012, auto-enrolment is a requirement for employers to automatically enrol eligible workers into a workplace pension scheme, and to contribute to this scheme.
Remember - Auto-Enrolment is not just for Christmas...
If you are a small business owner in the UK, by now you have heard about the new requirements for workplace pension schemes launched across the country. For the first time, those who own businesses of any size will be required to enrol their employees in mandatory pension schemes.
Over half of the British population admits to either not saving for a pensions or not saving enough for retirement...
The recent changes to the UK pension schemes mean that clear and effective communication in the workplace is more important than ever. As the owner or manager of a small to medium sized business, it is integral that you provide comprehensive information to all of your employees about their pension options.