Auto-Enrolment Awareness Campaign Stepped Up
The Pensions Regulator is stepping up its campaign to raise awareness of the impending obligations that employers will face in relation to workplace pensions in the UK.
As many as 1.5 million small and micro employers can now expect to receive a letter from the regulator explaining precisely when they will need to be ready to automatically enrol their employees onto appropriate pension schemes.
Larger employers have been made responsible for enrolling members of their workforces onto pension schemes over the past few years but those same obligations will soon fall upon every employer of any kind around the country.
The Pensions Regulator’s letters to small businesses are designed to act as a reminder that auto-enrolment issues will soon affect every employer in the UK and also to provide key information around staging dates and when new laws become effective.
The letters also ask that small and micro employers provide an email address so that they can be kept informed of key dates relating to auto-enrolment regulations going forward.
Charles Counsell, executive director of automatic enrolment at the Pensions Regulator, said in a statement: “Automatic enrolment affects every employer in the UK and they need to take timely action to get ready.
"The roll out of automatic enrolment has so far been a success and this letter will ensure that by the summer all small and micros are clear about when their duties begin, enabling them to plan ahead."
According to the regulator, a majority of the UK’s small and micro employers believe that automatically enrolling staff onto a workplace pension is a good idea and a positive step in terms of helping people save more effectively for later life.
Research by the Pensions Regulator also suggests that around one million employers will soon be seeking help from advisers on the subject of workplace pensions and their auto-enrolment obligations.
Frank is Begbies Traynor's workplace pensions expert with 30 years' experience in the financial services industry. Frank has an outstanding track record working with some of the UK’s leading financial services and plays a key advisory role on matters relating to automatic enrolment. Frank is well known in the financial services circuit and has developed countless working relationships with professional introducer firms including accountants, solicitors and financial advisory companies.