Act NOW to prepare your company for auto enrolment

Friday 12 February, 2016

The National Federation of Self Employed & Small Businesses (FSB) recently published an auto enrolment survey, Big Voice Community. Their findings reveal that although smaller firms in general believe auto enrolment will be good for their workforce, and that staff should be saving for their retirement, many businesses are still unsure what they need to do and how much it will cost them. 

According to the FSB, three in four business owners said that auto-enrolment pensions would put too much pressure on their type of business.

Richard Porter said: ‘According to the Pensions Regulator up to half a million small and micro employers must take action this year to meet their workplace pension commitments or risk a fine.  It seems clear from the FSB research that smaller businesses are still unsure what to do regarding their own auto enrolment & workplace pensions situation.  This combined with research from the Pension Regulator that shows smaller employers are more likely to leave things until the last minute makes the situation more worrying.  We have managed auto enrolment for several medium sized companies, and know that every company must go through the same process to meet their staging date.  Companies must act now and seek advice.  We recommend companies start planning for auto enrolment twelve months in advance of their staging date.  If your company is due to stage in 2016 call us on 01727 845500 or complete our enquiry form.’

Lonsdale Services operate offices in St Albans, Barnet, Harpenden, Leeds, Stafford, and Ware supporting a variety of wealth management and employee benefit clients across the United Kingdom.

Please note the Financial Conduct Authority does not regulate some auto enrolment services

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