Monthly Archives June 2015

Auto Enrolment Step-by-Step

Auto Enrolment Step-by-Step The latest auto-enrolment deadline for SMEs employing under 30 staff members passed on 1st June.  What do SME business owners need to know in order to comply with the new regulations? The UK has a pensions crisis. Too many people are not saving enough for their retirement, resulting in a pensions “black hole” where too many people rely on the State pension alone.  The Government’s response was to focus on ensuring that people save, and the most straightforward way to do this seemed simple – place a duty on employers to ensure that all workers are put
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Categories: News.

Small Business challenge to deliver new workplace pensions

Small Business challenge to deliver new workplace pensions The Federation of Small Businesses (FSB) are encouraging SME owners to make sure that they are aware of the latest auto-enrolment milestone. On 1st June, up to 14,000 businesses with fewer than 30 employees were faced with the Government’s new pension rules. These smaller firms have now reached their staging date to automatically enrol their employees in a workplace pension scheme. Last year, it was reported that a third of small businesses who had 60 employees or more were not ready for their auto-enrolment process. The FSB fears that the same problem
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Categories: News.

Regulator reveals increase in auto-enrolment fines

Regulator reveals increase in auto-enrolment fines A quarterly bulletin published by the Pensions Regulator has revealed that the number of fixed penalty notices has increased in 2015, with 198 penalties for failing to comply with workplace pensions duties handed down in the first three months of the year. A total of 166 employers were fined for failing to comply with their workplace pensions duties in the last three months of 2014, with a total of 367 having now been issued with a fixed penalty for failing to hit deadlines or comply with employee communication requirements. Most recently, there were also
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Categories: News.