The pressure on small employers is building…
“Auto-enrolment” means that even the smallest business which employs any “eligible staff” will soon have to provide – and contribute to – a pension scheme for their employees.
The largest employers have been required to auto-enrol their staff for the last couple of years but, from as early as June 2015, companies employing fewer than 50 employees may be required to register. Each employer will be given a “staging date” which will give them 12 months to register.
By June 2017 all employers will have to have their schemes in place – with hefty penalties if they don’t. Registration will involve a lot of work ….. and cost. I suggest you discuss this with your accountant or payroll operator soon.
Leaving things to the last minute is NOT to be recommended.