The Pensions Regulator has issued a warning to hundreds of thousands of small – micro employers to check when they must meet new workplace pension duties.
This warning follows new research that shows almost two thirds of small and micro employers still do not know when their staging date for auto enrolment is and when they need to start complying.
It is estimated that, over the next two years, around 1.8 million small and micro employers will need to act as a result of automatic enrolment duties and every employer is given a date set in law when their duties start – this is their staging date.
The latest employer survey highlights how the majority of employers due to stage between now and November 2015 have started preparing and are aware of their staging date, but that awareness amongst those due to stage in 2016 and beyond drops significantly.
We recommend that all small and micro employers find out when they need to comply with the new legislation. If you require assistance with your auto enrolment responsibilities, we recommend you contact an accountant immediately.