Small firms warned on pension dates
As many as 1.8 million small businesses will be required to comply with automatic enrolment laws in by 2018.
A study from the pensions watchdog found seven out of 10 firms expect to use advisers for advice on the right scheme.
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Hide AdThe regulator, which oversees compliance with the rules, said there is “no room for complacency”, as businesses that don’t provide and enrol workers onto a suitable pension scheme by the right date may face fines.
Charles Counsell, executive director of auto-enrolment at The Pensions Regulator, said: “Research shows many employers are still not preparing early enough.
“We continue to develop new tools on our website to simplify the process for employers and we are using a diverse range of communications to reach out to employers, but my message to employers remains clear: start getting your plans in place or you risk a financial penalty.”