Auto Enrolment Is Your Business Ready?

Auto Enrolment Is Approaching; Is Your Business Ready?

26.06.2012


Are you aware of auto-enrolment and what it means for your business? Pensions Partner, Nigel Bolton, explains what it means.

Auto-enrolment will be phased in from October 2012 and will mean that eventually every employer will need to contribute to the pension pot of all employees aged between 22 and state pension age who earn between £7,475 and £33,540 per year. 

Many organisations are only just waking up to the significant effect that auto-enrolment will have. In addition to the legal requirements, many will find themselves with significant payroll systems issues to overcome and some will face a much higher bill for contributions. All of which, in the worst cases, are likely to directly impact business performance and stability.

The new pensions reforms can be approached in different ways depending on your employee structure.  To discuss which option would be best for your business, contact Nigel on 0113 220 6213, or visit our Pensions page for more advice.